An employee makes a gross salary of 48,000 per year 15% of that money goes toward taxes of the employee invest 20% of his gross

Question

puteri [66]

2 years ago

8

An employee makes a gross salary of 48,000 per year 15% of that money goes toward taxes of the employee invest 20% of his gross

salary in a pre tax 401k. How much of that money went towards taxes

Mathematics

2 answers:

kolezko [41] · Answer 1 · 2022-06-20T19:54:59+03:00

kolezko [41]2 years ago

6 0

First calculate his gross salary after his 401k contributions:
$x = 48000 - (48000 \times 0.20) \\ x = 38400$

Then find the amount of taxes withheld:
$t = 38400(0.15) \\ t = 5760$

5,760 dollars went towards taxes.

Usimov [2.4K] · Answer 2 · 2022-06-20T21:00:16+03:00

Answer:

Therefore, $5760 went towards taxes.

Step-by-step explanation:

An employee makes a gross salary of 48,000 per year.

15% of that money goes toward taxes of the employee invest 20% of his gross salary in a pre tax 401k.

$48000\times0.80=38400$ dollars

This is the income.

And its 15% goes towards tax.

$0.15\times38400=5760$ dollars

Therefore, $5760 went towards taxes.