Question

question 1 of 25
chadwick contributes 17% of his $68,600 annual salary to his 401(k) plan.
what is his pre - tax income?

a. $56,839

b. $11,662

c. $56,938

d. $68,600

Explanation:

Step1: Calculate contribution amount

First, find 17% of $68,600. The formula for percentage calculation is $Amount = Salary\times Percentage$. So, $68600\times0.17 = 11662$.

Step2: Calculate pre - tax income

Pre - tax income is the salary minus the contribution. So, $68600 - 11662 = 56938$.

Answer:

C. $56,938