Bryna contributes 7% of her salary to a payroll savings plan. if her
annual salary is $17,500, how much is withheld each month for savings?
$102.08
thanks i keep getting 1225
take the annual witholding, and divide it by 12.
17500*(.07)/12
To find out how much is withheld each month for savings, you can follow these steps:
Step 1: Convert Bryna's annual salary to monthly salary.
Since there are 12 months in a year, divide Bryna's annual salary by 12 to get her monthly salary.
Monthly salary = $17,500 / 12 = $1,458.33 (rounded to two decimal places)
Step 2: Calculate the amount withheld each month for savings.
Bryna contributes 7% of her monthly salary to the payroll savings plan. To find out how much is withheld each month, multiply her monthly salary by 7% (0.07).
Amount withheld each month for savings = $1,458.33 * 0.07 = $102.08 (rounded to two decimal places)
Therefore, Bryna has $102.08 withheld each month for savings.