Question

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

Answer 1

56938

Explanation:

Answer 2

His pre-tax income is $56938.

Explanation:

Consider the provided statement:

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

Therefore,

`(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.