Ayesha works as a real estate agent. Her annual gross salary is . From this, she must pay income tax on
anything earned above . In addition, she must repay a loan at a rate of per month, which is taken out of her
post-tax pay (that is after the tax has been calculated).
What is Ayesha’s take-home pay per year, after taxes and after making her loan payments? Round your answer to the
nearest dollar.
Provide your answer below:

Ask by Craig O'Quinn. in Canada

Mar 31,2025

Question

Ayesha works as a real estate agent. Her annual gross salary is . From this, she must pay income tax on
anything earned above . In addition, she must repay a loan at a rate of per month, which is taken out of her
post-tax pay (that is after the tax has been calculated).
What is Ayesha’s take-home pay per year, after taxes and after making her loan payments? Round your answer to the
nearest dollar.
Provide your answer below:

Ask by Craig O'Quinn. in Canada

Mar 31,2025

UpStudy AI · Accepted Answer

**Step 1. Calculate the Taxable Income**  
Ayesha only pays tax on the income above $$\$15,000$$.  
$$
\text{Taxable Income} = \$28,000 - \$15,000 = \$13,000
$$

**Step 2. Compute the Income Tax**  
The tax rate is $$20\%$$.  
$$
\text{Tax} = 0.20 \times \$13,000 = \$2,600
$$

**Step 3. Determine the Post-Tax Income**  
Subtract the tax from the gross salary.  
$$
\text{Post-Tax Income} = \$28,000 - \$2,600 = \$25,400
$$

**Step 4. Calculate the Annual Loan Repayment**  
Ayesha pays $$\$140$$ per month on her loan. Over a year, the total payment is:  
$$
\text{Annual Loan Payment} = 12 \times \$140 = \$1,680
$$

**Step 5. Compute the Take-Home Pay**  
Subtract the annual loan repayment from the post-tax income.  
$$
\text{Take-Home Pay} = \$25,400 - \$1,680 = \$23,720
$$

$$\boxed{\$23,720}$$ is Ayesha's take-home pay per year after taxes and loan repayments.
Ayesha's take-home pay per year is \$23,720.

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