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maria [59]
2 years ago
9

Using the chart below, determine the total taxes owed for someone with an annual income of $155,000.00.​

Mathematics
1 answer:
Katyanochek1 [597]2 years ago
4 0

Answer:

  1. $31,279.50
  2. $1,450,000

Step-by-step explanation:

<h3>1.</h3>

The tax on $155,000 is computed by adding the tax due in each bracket.

  total tax = (0.24)(155,000 -85,525) +(0.22)(85,525 -40,125) +(0.12)(40,125 -9,875) +(0.10)(9,875)

  = (0.24)(155,000) +(85,525)(-0.24 +0.22) +(40,125)(-0.22 +0.12) +(9,875)(-0.12 +0.10)

  = 0.24(155,000) -(0.02(85,525) +0.10(40,125) +0.02(9,875))

  = 37,200 -(1710.50 +4012.50 +197.50) = 37,200 -5920.50

  = 31,279.50

Taxes owed on $155,000 are $31,279.50.

__

<h3>2.</h3>

The 80% rule says your retirement income should replace 80% of your pre-retirement income. If W is your pre-retirement annual wage, your retirement need is expected to be 0.80×W.

The 4% rule says your first-year withdrawal should be about 4% of your retirement savings (S). That is, we want ...

  0.80×W = 0.04×S

Solving for S, we find ...

  S = W×(0.80/0.04) = 20W

If the annual gross wage is 72,500, the retirement savings needed is predicted to be ...

  S = 20(72,500) = 1,450,000

Total retirement savings needed is $1,450,000 using these rules.

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Answer:

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=

−

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2

(

−

2

)

=

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A ball is thrown upwards from the top of a 40 foot high building at a speed of 80 feet per second. The ball’s height above ground can be modeled by the equation

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4

(

−

16

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(

40

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2

(

−

16

)

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−

80

s

q

r

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