Question

you earn $50,000 per year, and the federal tax rate is 10 percent. your net income is

Answer 1

$45,000 would be your net worth 

10% of 50,000 is 5,000 so subtract 5,000 from 50,000 and you get 45,000

Answer 2

Answer:

Our net income is $45,000.

Explanation:

Income earned in an year  = $50,000

Rate at which federal taxes are applied = 10%

Amount to deducted as federal tax ;

= $\ 50,000\times \frac{10}{100}=\ 5,000$

Net income = Yearly income - Federal tax

$=\ 50,000-\ 5,000=\ 45,000$

Our net income is $45,000.