Answer:
d. $1,740
Step-by-step explanation:
The annual after-tax salary is found by subtracting the tax from the salary. The tax is found by multiplying the tax rate by the salary. The monthly after-tax income is 1/12 of the annual after-tax income.
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annual tax = 0.28 × $29,000 = $8,120
annual take-home pay = $29,000 -8,120 = $20,880
monthly take-home pay = annual pay / months per year
= $20,880 / 12 = $1,740 . . . . net monthly income
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Additional comment
The net pay will be (1 - 0.28) = 0.72 times the nominal salary. The monthly pay will be 1/12 of the annual pay. These combined factors give a monthly net pay of (0.72)(1/12) = 0.06 times the annual pay.
0.06 × $29000 = 6×$290 = $1740
