21.
Jane's monthly income in the year 2020 was $48,200, where 14% of her salary was withheld for income tax. In the year 2021, her monthly salary was $51,800, where 16% of her income was withheld for income tax. What was her average take home pay during the years 2020-2021?
$48,482
First, we have to determine the take home pay for each of the two years, 2020 and 2021 In 2020, Jane paid the followoing in taxes: $48,200 x .14 = $6,748 $48,200 - $6,748 = $41,452 take home pay for 2020 In 2021, Jane paid the following in taxes: $51,800 x .16 = $8,288 $51,800 - $8,288 = $43,512 To find the average for the two years, add $41,452 and $43,512 and then divide by 2: $41,452 + $43,512 = $84,964 $84,964 ÷ 2 = $42,482
Incorrect answer. Please choose another answer.
$46,486
First, we have to determine the take home pay for each of the two years, 2020 and 2021 In 2020, Jane paid the followoing in taxes: $48,200 x .14 = $6,748 $48,200 - $6,748 = $41,452 take home pay for 2020 In 2021, Jane paid the following in taxes: $51,800 x .16 = $8,288 $51,800 - $8,288 = $43,512 To find the average for the two years, add $41,452 and $43,512 and then divide by 2: $41,452 + $43,512 = $84,964 $84,964 ÷ 2 = $42,482
Incorrect answer. Please choose another answer.
$44,462
First, we have to determine the take home pay for each of the two years, 2020 and 2021 In 2020, Jane paid the followoing in taxes: $48,200 x .14 = $6,748 $48,200 - $6,748 = $41,452 take home pay for 2020 In 2021, Jane paid the following in taxes: $51,800 x .16 = $8,288 $51,800 - $8,288 = $43,512 To find the average for the two years, add $41,452 and $43,512 and then divide by 2: $41,452 + $43,512 = $84,964 $84,964 ÷ 2 = $42,482
Incorrect answer. Please choose another answer.
$42,482
First, we have to determine the take home pay for each of the two years, 2020 and 2021 In 2020, Jane paid the followoing in taxes: $48,200 x .14 = $6,748 $48,200 - $6,748 = $41,452 take home pay for 2020 In 2021, Jane paid the following in taxes: $51,800 x .16 = $8,288 $51,800 - $8,288 = $43,512 To find the average for the two years, add $41,452 and $43,512 and then divide by 2: $41,452 + $43,512 = $84,964 $84,964 ÷ 2 = $42,482
Incorrect answer. Please choose another answer.