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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