Question

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?

Answer 1

860 * 0.14 = 120.40
860 * 0.03 = 25.80
sum of taxes = 146.20
860.00 - 146.20 = 713.80

Answer 2

860(1 - 0.14 - 0.03) = ____