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3 votes
If you earn 30K a year and are taxed 10% what's your gross income and net income

User KLabz
by
7.5k points

1 Answer

4 votes
we have that

Gross income ---------------- > is the amount before taxes---------> $30000

Net income-------> is how much money you earn in a year after taxes and other deductions
Net income=[Gross income]-[Gross income*taxes]
taxes=10%=0.10
Net income=
$30000-[$30000*0.10]=$27000

the answer is
Gross income=$30000
Net income=$27000
User Immo Landwerth
by
7.6k points
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