Question

< Question 7, 1.5.25 >

Answer 1

The 21% of taxes and annual percentage decrease of 0.32, using arithmetic progression gives;

• The year corporations will pay zero taxes as 2025

How can arithmetic progression be used to find the required year?

The percentage of tax that comes from corporate income tax = 21%

Amount by which the percentage decreased each year = 0.32

Period during which the tax reduced = Between 1960 and 2010

Required;

The year corporations pay zero taxes.

Solution;

The amount of tax paid each year can be given by the arithmetic progression formula,

$a_{n} = a + (n - 1) \cdot d$

Where;

a = The first term = 21

$a_{n} = value \: on \: the \: nth \: year$

d = The common difference = -0.32

When $a_{n} = 0$, we have;

$0 = 21 + (n - 1) \times (-0.32)$

0.32•(n - 1) = 21

n - 1 = 21/0.32 = 65.625

n = 65.625 - 1 = 64.625 ≈ 65

The year the corporations will pay no taxes is 1960 + 65 = 2025

Corporations will pay no taxes in the year 2025

Learn more about arithmetic progression here:

brainly.com/question/6561461

#SPJ1