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13-01-2021
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Tom is a college student whose gross monthly income is $2000. Each month he has deductions totaling $100. What is his net monthly income?

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13-01-2021

Answer:

$1900

Explanation:

We define net income or net earnings as the amount an individual earns after taxes and other necessary deductions must have been subtracted from the gross income.

If Tom earns gross monthly income of $2000 and the total deductions on his earning is $100, then his net monthly income is;

$2000 - $100 = $1900

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