Answered

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An employee at a homemade wooden toy store earned $860 over the past week. The employee needs to pay 14% for Federal Income Tax and 3% for State Income Tax, both on the initial amount he earned. How much will the employee earn after paying both taxes?
$

Sagot :

florvlclark
Answer:
$713.8

Explanation:
14%of 860 = 120.4

3% of 860 = 25.8

so, subtract the sum of the above 2 values from 860.

860 - (120.4+25.8) = 860-146.2 = 713.8

Hope this helps

Using Percentage, the employee earn after paying Federal income tax and state income tax is $713.8.

What is percentage?

Percentage is a "number or ratio that can be expressed as a fraction of 100".

According to the question,

An employee earned $860 over the past years. The employee needs to pay 14% for income tax and 3% for state income tax

Find an employee needs to pay in Federal income tax:

[tex]\frac{14}{100}[/tex] × 860 = 120.4

Find an employee need to pay in State income tax:

[tex]\frac{3}{100}[/tex] × 860 = 25.8

In order to find an  employee earn after paying both taxes only if we sum the amount of taxes paid by an employee and subtract from earned amount by past years.

860 - (120.4  + 25.8) =713.8

Hence, Using Percentage, the employee earn after paying Federal income tax and state income tax is $713.8.

Learn more about Percentage here

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