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3 years ago

14

An employee earns $2,000.00 per month in gross pay, but pays $104.36 for health insurance, 9% in federal taxes, for state taxes,

and 2% for local taxes. What is the employee's net pay?

1 answer:

Nostrana [21]3 years ago

6 0

The employee's net pay is $21,255.64

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Read 2 more answers

In three years, when he is discharged from the Air Force, Steve wants to buy an 8,000 power boat.

eduard

Steve will get $11360 with the process of simple interest.

<h3>what is simple interest?</h3>

Simple interest is calculated based on a loan's principal or the initial deposit into a savings account. Simple interest doesn't compound, therefore a creditor will only charge interest on the principal sum, and a borrower will never be required to pay further interest on the interest that has already accrued.

Rate of interest = 14%

principal + interest = $8000

Time = 3 years

Simple interest

$=\frac{8000 \times 3 \times 14}{100}\\=3360$

Now principal + interest = 8000+3360 = 11360

Therefore, Steve will get $11360.

To learn more about simple interest from the given link

brainly.com/question/25793394

#SPJ4

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