your friends job pays $10 per hour, and he works 40 hours per week. his tax rate is 20 percent. assuming he…

your friends job pays $10 per hour, and he works 40 hours per week. his tax rate is 20 percent. assuming he works 50 weeks of the year, his yearly net income is\n$4,000\n$16,000\n$20,000\n$40,000

your friends job pays $10 per hour, and he works 40 hours per week. his tax rate is 20 percent. assuming he works 50 weeks of the year, his yearly net income is\n$4,000\n$16,000\n$20,000\n$40,000

Answer

Explanation:

Step1: Calculate weekly gross income

$\text{Weekly Gross} = 10 \times 40 = 400$

Step2: Calculate annual gross income

$\text{Annual Gross} = 400 \times 50 = 20000$

Step3: Calculate tax amount

$\text{Tax} = 20000 \times 0.20 = 4000$

Step4: Calculate annual net income

$\text{Annual Net} = 20000 - 4000 = 16000$

Answer:

$16,000$