document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1192441>Question 1192441</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Matthew is married and lives in Pennsylvania, which has a state income tax rate of 3.07%. He earns an annual salary of $47,530. Calculate his monthly take-home pay. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #824332 by </B><A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><B>math_tutor2020(3816)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=824332\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "$47,530 is the gross annual salary before taxes are deducted.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "3.07% = 3.07/100 = 0.0307<BR>\n" );
document.write( "3.07% of $47,530 = 0.0307*47530 = 1,459.171 = 1,459.17\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Matthew is charged $1,459.17 in income tax.<BR>\n" );
document.write( "His annual take-home pay is 47,530 - 1,459.17 = 46,070.83<BR>\n" );
document.write( "This does not account for federal income taxes or other taxes such as FICA.<BR>\n" );
document.write( "However, since your teacher didn't mention those other taxes, then I'm assuming s/he only is considering state taxes.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Lastly, divide by 12 to get the monthly take-home pay.<BR>\n" );
document.write( "(46,070.83)/12 = 3,839.23583333333<BR>\n" );
document.write( "This rounds to $3,839.24\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "---------------------------------------------------------------<BR>\n" );
document.write( "Here's another way to get the answer\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "The state wants 3.07% of his annual salary.<BR>\n" );
document.write( "He keeps the remaining 100% - 3.07% = 96.93%\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "96.93% of 47,530 = 0.9693*47530 = 46,070.829 = 46,070.83<BR>\n" );
document.write( "We get the same annual take-home pay as before, which will lead to the same monthly take-home pay.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "---------------------------------------------------------------\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Answer: $3,839.24<BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );