Question

How much is your monthly cash inflow if you earn $80 a week but about 20% is withdrawn from your check for taxes assume there 4 weeks in the month round to the nearest hundred​?

Answer 1

To find the monthly cash inflow from a weekly earning of $80 with a 20% tax deduction, subtract 20% from $80 to get the weekly after-tax income, then multiply by 4 to get the monthly inflow, resulting in $256.

Step-by-step explanation:

If you earn $80 a week and approximately 20% of that amount is withdrawn for taxes, you would first calculate the net amount you receive each week after taxes:

1. Multiply $80 by 20% ($80 x 0.20 = $16) to find the amount taken out for taxes.
2. Subtract the tax amount from your weekly earnings ($80 - $16 = $64) to get your weekly after-tax income.
3. Assuming there are 4 weeks in a month, multiply your weekly after-tax income by 4 ($64 x 4 = $256) to get your monthly cash inflow.

Therefore, your monthly cash inflow after a 20% tax deduction from your weekly earnings of $80 would be $256.