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Calculate your net pay and spendable income

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Question - Assume your gross pay per pay period is $2,100 and you are in the 26 percent tax bracket (ignore provincial tax). Calculate your net pay and spendable income in the following situations:

 Required -

a. You save $200 per pay period in a TFSA after paying income tax on $2,100.

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

Reference no: EM132618556

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