Question

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

Answer 1

First calculate his gross salary after his 401k contributions:

`x = 48000 - (48000 * 0.20) \\ x = 38400`

Then find the amount of taxes withheld:

`t = 38400(0.15) \\ t = 5760`

5,760 dollars went towards taxes.

Answer 2

Therefore, $5760 went towards taxes.

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*0.80=38400` dollars

This is the income.

And its 15% goes towards tax.

`0.15*38400=5760` dollars

Therefore, $5760 went towards taxes.