Answer:
$300 was deducted from tax. The tax rate is 26.1%
Step-by-step explanation:
An employee earns a gross pay of $1,200.00 per week. The employee’s net pay is $850.00. The employee’s voluntary 401(k) contribution is $50.00 per month.
There was blank deducted for taxes. The tax rate is blank
Solution:
Contributions that are made for retirement such as 401(k) contribution plans are made on a pretax basis. This means that they are removed from your taxable income, thereby reducing the tax.
Gross pay = $1200
Taxable income = Gross pay - 401(k) contribution
Taxable income = $1200 - $50 = $1150
Net pay = $850
Tax = Taxable income - Net pay
Tax = $1150 - $850
Tax = $300
Tax rate = (Tax / taxable income) * 100%
Tax rate = ($300 / $1150) * 100% = 26.1%
Hope you could get an idea from here.
Doubt clarification - use comment section.
Answer:
6. Multiply 2 by 6
7. 71 + 9(8) = 71 + 72 = 143
8. 52 + 3(4) = 12 + 52 = 64
9. 19.25 + 2.75(7) = 19.25 + 19.25 = 38.50
10. 2(0.6)^2 + 4(0.6)(5) = 0.72 + 12 = 12.72
Srry if they r wrong
