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Calculate the net pay and spendable income

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Question 1: Assume your gross pay per pay period is $3,100 and you are in the 26 percent tax bracket (ignore provincial tax). Calculate your net pay and spendable income in the following situations:

a. You save $200 per pay period in a TFSA after paying income tax on $3,100. (Omit the "tiny_mce_markerquot; sign in your response.)

b. You save $200 per pay period in an RPP.

Reference no: EM132608847

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