PROBLEM Solving.
A university professor who receive a basic mothly salary of P80,000, a living allowance of P2,000 per month, and has an investment of P500,000 which earn an interest of 6% per year. Suppose this university professor has to pay also each year P245,880 for income tax, P12,000 for Philhealth, P1,200 for Pag-ibig and P86,400 for GSIS contributions. What is his (a) gross income (b) net income? (SHOW COMPLETE SOLUTION)
A university professor who receive a basic mothly salary of P80,000, a living allowance of P2,000 per month, and has an investment of P500,000 which earn an interest of 6% per year. Suppose this university professor has to pay also each year P245,880 for income tax, P12,000 for Philhealth, P1,200 for Pag-ibig and P86,400 for GSIS contributions. What is his (a) gross income (b) net income? (SHOW COMPLETE SOLUTION)
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PROBLEM Solving.
PROBLEM Solving.A university professor who receive a basic mothly salary of P80,000, a living allowance of P2,000 per month, and has an investment of P500,000 which earn an interest of 6% per year. Suppose this university professor has to pay also each year P245,880 for income tax, P12,000 for Philhealth, P1,200 for Pag-ibig and P86,400 for GSIS contributions. What is his (a) gross income (b) net income? (SHOW COMPLETE SOLUTION)
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