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11 December, 12:22

Your friend's job pays $10 per hour and he works 40 hours per week. His tax rate is 20 percent. Assuming he works 50 weeks of the year, his yearly gross income is

A. $4,000

B. $16,000

C. $20,000

D. $40,000

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Answers (1)
  1. 11 December, 12:41
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    40 hrs per week for 50 weeks : 40 (50) = 2000 hrs

    2000 hrs at 10 per hr = (2000) (10) = 20,000.

    tax rate is 20% : 0.20 (20,000) = 4000

    20,000 - 4,000 = 16,000 < = = gross pay
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