Question

Susan is extremely exited about starting her first job as a nurse. Her gross annual salary is $40,000. Susan contributes 10% of her salary before taxes to a retirement account. Then she pays 25% of her remaining salary in state and federal taxes. Finally she pays $30 per month for health insurance. What is Susan’s annual take-hime pay?

Answer 1

$2,6640

Explanation:

first find the amounts she gives up:

Retirement account: 10/100 x 40000 = $4000

state federal tax: 25/100 x (40000 - 4000) = $9000

Health insurance: $30 x 12months = $360.

Now find the sum of these and subtract from 40,000 = 40000-13360 = $2,6640

Hope this helps