Answer:
$35,708.4
Explanation:
His net income will be the total that he earns less the taxes.
So, we need to calculate how much money does Rob pays for each tax.
Therefore, 6.2% of 4200 is equal to:
[tex]4200\times6.2\text{ \% =4200 }\times\frac{6.2}{100}=260.4[/tex]It means that Rob pays $260.4 each month for social security,
In the same way, 1.45% of 4200 is equal to:
[tex]4200\times1.45\text{ \% = 4200}\times\frac{1.45}{100}=60.9[/tex]16% of 4200 is equal to:
[tex]4200\times16\text{ \% = 4200}\times\frac{16}{100}=672[/tex]5.5% of 4200 is equal to:
[tex]4200\times5.5\text{ \% = 4200}\times\frac{5.5}{100}=231[/tex]Now, we can calculate the net income per month as:
$4200 - $260.4 - $60.9 - $672 - $231 = $2975.7
Finally, his annually net income will be the net income per month multiplied by 12 months:
$2975.7 x 12 = $35,708.4
So, the answer is $35,708.4
