Asked by Shannon Michaud on May 21, 2024
Verified
Elijah's biweekly paycheck 5 years ago resulted in a direct deposit of $1,876.92 into his checking account each period.Today,he received a raise that brought his annual salary to $102.05K.If the benefits and taxes deducted from Elijah's paycheck are approximately 36% of his gross pay,how much more per month will Elijah have in his monthly budget than he did 5 years ago? Round to the nearest dollar.
Annual Salary
The total amount of money earned by an employee in a year, not including bonuses or other extra payments.
Direct Deposit
Payroll or other types of checks that are directly and electronically deposited into a bank account.
Gross Pay
The total amount of an employee's earnings before any deductions are made, such as taxes and retirement contributions.
- Analyze real-world problems involving direct and indirect financial calculations.
- Calculate earnings, including understanding how salary adjustments affect personal budgets.
Verified Answer
TS
Learning Objectives
- Analyze real-world problems involving direct and indirect financial calculations.
- Calculate earnings, including understanding how salary adjustments affect personal budgets.