Question

Michael is considering four different job offers. He estimates that 12% of his income will go to his taxes. He created a table in order to determine how much his take home pay will be from each job.

Answer 1

Michael's take home pay from each job are;

`\begin{array}{cccc}Gross \ Income& Take \ home \ Pay\\\$1,250& \$1,100\\\$1,525 &\$1,342\\\$1,850&\$1,628\\\$2,200&\$1,936\\\\Sum&\$6,006\end{array}\\`

Explanation:

The given parameters are;

The percentage of Michael's income that he estimates will go to his taxes = 12%

The number of jobs Michael has = Four jobs

The table Michael created can be presented and the estimated taxes and the take home pay entered as follows;

Tax owed = Gross income × Tax percent

Take home pay = Gross income - Tax owed

`\begin{array}{cccc}Gross \ Income& Multiplied \ by \ Tax \ Percent &Taxes \ Owed& Take \ home \ Pay\\\$1,250&* \ 0.12 =&\$150& \$1,100\\\$1,525 &* \ 0.12 =&\$183&\$1,342\\\$1,850&* \ 0.12 =&\$222&\$1,628\\\$2,200&* \ 0.12 =&\$264&\$1,936\\\\Sum&&\$819&\$6,006\end{array}\\`