Question

Franka's annual salary is $79600. About 25% of her salary is deducted for taxes.

a) Estimate the amount deducted from Franka's pay each year

b) Franka received a 3% increase in pay. Calculate her new annual salary.

c) Calculate the amount deducted for taxes from her new pay.

Answer 1

a) Based on Franka's annual salary of $79,600, approximately 25% of her salary would be deducted for taxes. This means that the amount deducted from Franka's pay each year would be approximately $19,900 ($79,600 x 0.25).

b) After receiving a 3% increase in pay, Franka's new annual salary would be $82,068 ($79,600 + ($79,600 x 0.03)).

c) The amount deducted for taxes from Franka's new pay would be approximately $20,517 ($82,068 x 0.25).