Tim is an engineer making $120,024 annually and will be paid once a month. Each month he will have the following deductions taken from his paycheck:
- Social Security at a rate of 5.7%
- Medicare at a rate of 2.1%
- State taxes at a rate of 7%
- Federal taxes at a rate of 15%
- Insurance premiums for the amount of $474

How much is Tim’s GROSS MONTHLY salary?

How much is Tim’s NET MONTHLY salary?

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step-by-step explanation:

the final amount you will pay is $68.04.

the tip is determined by the pre-tax amount, so we calculate the tip based on the original bill, not after we've added sales tax.

to find the tip:

we can divide 54.00 by 100 to get 1% of 54. then we multiply that by 18.

54 / 100 = .54

.54 x 18 = 9.72

tip = 9.72$

to find the tax:

we can divide 54.00 by 100 to get 1% of 54. then we can multiply that by 8 to get 8%.

54 / 100 = .54

.54 x 8 = 4.32

tax= 4.32

now we can add the tip and tax to the bill to get our total.

54 + 9.72 + 4.32 = 68.04

total: $68.04

step-by-step explanation:

12

step-by-step explanation:

12 + 5 = 17

12x2=24

24-7=17