Question

If someone earns an annual salary of $70,000 and pays 30% in taxes, what would their annual take-home pay be?(1 point)
Responses

$70,000
$70,000

$49,000
$49,000

$40,000
$40,000

$21,000

Answer 1

To calculate the annual take-home pay after taxes, you can subtract the tax amount from the annual salary.

1. Calculate the taxes:
- Taxes = 30% of $70,000 = 0.30 * $70,000 = $21,000

2. Calculate the take-home pay:
- Take-home pay = Annual salary - Taxes
- Take-home pay = $70,000 - $21,000 = $49,000

So, the annual take-home pay would be **$49,000**.