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Viktor [21]
3 years ago
14

Each week desireeearns $925 and pays $148 in payroll tax. How long does it take desiree to earn at least $3000 after taxes?

Mathematics
1 answer:
tia_tia [17]3 years ago
3 0
4 weeks because 925 - 148= 777 777x4=3,108
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Substituting the given in the formula we will get the monthly payment.

Monthly\; Payment\; =\; \frac{224500 \times \frac{0.04}{12}}{(1-(1+\frac{0.04}{12})^{-360})}   =\frac{\frac{8980}{12}}{(1-0.301796)}  =\frac{748.3333}{0.698204} \\ \\ Monthly \; Payment= \$1071.7975

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The monthly payment during the initial period is <u>$1072</u>.

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