Subjects finance

Income Calculation 81D1Fa

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1. **State the problem:** Anna earns 550 per day and worked 22 days this month. We need to find her gross income and then compute her net income after deductions for SSS, PhilHealth, PAG-IBIG, and tax. 2. **Calculate gross income:** Gross income is calculated by multiplying daily wage by number of days worked. $$\text{Gross Income} = 550 \times 22$$ 3. **Calculate gross income value:** $$550 \times 22 = 12100$$ 4. **Calculate deductions:** - SSS deduction is 5% of gross income: $$\text{SSS} = 12100 \times 0.05 = 605$$ - PhilHealth deduction is half of 5% of gross income: $$\text{PhilHealth} = \frac{12100 \times 0.05}{2} = 302.5$$ - PAG-IBIG deduction is maximum 200 (fixed): $$\text{PAG-IBIG} = 200$$ - Tax withheld is exempted: $$\text{Tax} = 0$$ 5. **Sum of deductions:** $$\text{Total Deductions} = 605 + 302.5 + 200 + 0 = 1107.5$$ 6. **Calculate net income:** Net income is gross income minus total deductions. $$\text{Net Income} = 12100 - 1107.5 = 10992.5$$ **Final answer:** Anna's gross income is **12100** and her net income after deductions is **10992.5**.