SOLUTION: Cliff's annual salary is $65000. He will pay 25% of his income in taxes. How much is his monthly income after taxes? Give your answer to the nearest penny.

Question 1105329: Cliff's annual salary is $65000. He will pay 25% of his income in taxes. How much is his monthly income after taxes? Give your answer to the nearest penny.
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
his annual salary is 65,000.

the tax is 25%.

his annual after tax income is therefore 65,000 - .25 * 65,000 which is equal to 65,000 * (1 - .25) which is equal to .75 * 65,000 which is equal to 48,750.

you then divide 48,750 by 12 to get his monthly after-tax income of 4062.5

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