The gross salary of a teacher is $56,244. Find the net monthly salary if deductions of $1,475 are made per month.
To find the net monthly salary, we need to subtract the deductions from the gross salary and then divide by the number of months in a year.
First, we need to find the annual deductions:
$1,475 per month x 12 months = $17,700 per year
Next, we need to subtract the annual deductions from the gross salary:
$56,244 - $17,700 = $38,544
Finally, we divide the annual net salary by 12 to get the monthly net salary:
$38,544 / 12 = $3,212
Therefore, the net monthly salary of the teacher is $3,212.