An employee has an annual salary of $26,965.After he arranges to have deducted from his salary 12% for the purchase of bonds,17% for federal withholding tax,and 3% for a retirement fund,what is the amount of his monthly check? Thanks!
Assuming that the percentages of the deductions apply to the base salary, the annual salary after the deductions is given by :
26,965 ( 1 - .12 - .17 - .03) = $18336.20
And the monthly check amount = 1/12 of this ≈ $ 1528. 02
