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Kevin earns $240,000 a year as a surgeon. He contributes $20,500 to
his pre-tax 401(k) retirement account and pays the government 28% of his
remaining salary per year. How much is his net pay?

Sagot :

Using proportions, it is found that his net pay is of $158,040.

What is a proportion?

A proportion is a fraction of a total amount, and the measures are related using a rule of three.

His first discount is for the retirement account, hence the taxable amount is:

T = 240000 - 20500 = $219,500.

He pays 28% of that in taxes, hence his net pay is of 100 - 28 = 72% of  $219,500, hence:

N = 0.72 x 219500 = $158,040.

More can be learned about proportions at https://brainly.com/question/24372153

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