Question

help me plz: An employer is paying an employee a salary of $35,500 a year. The employer promised to increase his/her salary by 2,750 per year. What will be the employee's salary by year 8?​

Answer 1

401(k) plan

Explanation:

The employee earns $45/hour, with his employer paying 1.5 times the regular rate of pay for overtime hours. To date, he has earned $130,050 during the present year. He has requested that his employer withhold 8% of gross pay, which is to be contributed to a 401(k) plan. Taxable income for federal income tax withholding = $