Question

Write a program in Java for a person who is making $96,000 per year and paying 35% all taxes ( 24% Federal, 6% State, 5% others), pay 8% for assurance, 3% for retirement.

a) Calculate all deduction for a month and a year.

b) Calculate monthly salary before and after deduction.

c) Calculate yearly income after deduction.

Answer 1

import java.io.*;

class GFG {
   public static void main (String[] args) {
       float yearlyIncome=96000;
       float yearlyTax = (96000*35)/100;
       float yearlyAssurance =(96000*8)/100;
       float yearlyRetirement =(96000*3)/100;
      
      
       System.out.println("Monthly deductions:");
       System.out.print("Monthly Tax:\t\t"+(yearlyTax/12)+"\nMonthly Assurance:\t"+(yearlyAssurance/12)+"\nMonthly Retirement:\t"+(yearlyRetirement/12)+"\n\n");
      
       System.out.println("Yearly deductions:");
       System.out.print("Yearly Tax:\t\t"+(yearlyTax)+"\nYearly Assurance:\t"+(yearlyAssurance)+"\nYearly Retirement:\t"+(yearlyRetirement)+"\n\n");
      
       System.out.println("Monthly Salary before deductions:\t"+(yearlyIncome/12));
       float sum = yearlyRetirement + yearlyAssurance + yearlyTax;
       System.out.println("Monthly Salary after deductions:\t"+((yearlyIncome/12)-(sum/12))+"\n");
      
       System.out.println("Yearly Income after deductions: \t"+(yearlyIncome - sum));
   }
}