Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2% social security, 1.45% medicare, 5% for health insurance, $50 per month for life insurance, $30 per month for dental, and 8% per month for retirement.a. What is her gross monthly salary? b. What is her net monthly salary?
Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2% social security, 1.45% medicare, 5% for health insurance, $50 per month for life insurance, $30 per month for dental, and 8% per month for retirement.a. What is her gross monthly salary? b. What is her net monthly salary?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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- Ann earns $95,000 per year in salary. She pays 25% federal income tax, 6% state income tax, 6.2% social security, 1.45% medicare, 5% for health insurance, $50 per month for life insurance, $30 per month for dental, and 8% per month for retirement.a. What is her gross monthly salary? b. What is her net monthly salary?
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