Question

Chadwick contributes 17% of his $68,600 annual salary to his 401(k) plan. What is his pre-tax income?

Answer 1

Answer:

56938

Step-by-step explanation:

Answer 2

Answer:

His pre-tax income is $56938.

Step-by-step explanation:

Consider the provided statement:

Chadwick contributes 17% of his annual salary to his 401(k) plan.

Therefore,

$\frac{17}{100} 68,600=17( 686)$

          $=11662$

Thus, Chadwick contributes $11662 in 401(k) plan.

Pretax earnings exclude taxes, therefore subtract $11662 from his annual salary.

$68600-$11662=$56938

Hence, his pre-tax income is $56938.