To calculate the amount of money deducted for taxes, you need to multiply the salary by the tax rate.
Tax amount = Salary * Tax rate
Tax amount = $6,550.00 * 0.26
Tax amount = $1,703.00
Therefore, $1,703.00 was deducted for taxes from the monthly salary of $6,550.00.
The monthly salary of an employee is $6,550.00. 26% of the salary was deducted for taxes. How much money was deducted for taxes?
1 answer