Question

A nurse has an annual income of $48,752 the income taxes to 20% rate what is the amount of the nurses income tax in dollars and cents

Answer 1

$58502.40 is the answer. First divide the tax rate by 100 then add 1.

20/100 = .20 + 1 = 1.20

Then multiply the rate with the annual income.

48,752(1.20) = 58502.4