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9 May, 07:59

Ayesha works as a real estate agent. Her annual gross salary is $28,000. From this, she must pay 20% income tax on anything earned above $15,000. In addition, she must repay a loan at a rate of $140 per month, which is taken out of her post-tax pay (i. e. after the tax has been calculated). What is Ayesha's take home pay per year? Round your answer to the nearest dollar.

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  1. 9 May, 10:32
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    Step-by-step explanation:

    Annual gross salary = $28000

    Income tax = 20% on anything above $15000

    So she's taxable for $5000

    Rent loan = $140 per month = $140 * 12 = $1680 per annum

    Tax deductible per annum = 20% of $5000

    20 / 100 * $5000 = $1000

    Total amount she takes home per annum =

    Gross salary per annum - tax - loan =

    ($28000 - $1000 - $1680) = $25,320

    Ayesha takes home $25,320 home annually.
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