You have a credit card with a balance of $2,856.74 at a 14.75% APR. You decide to put $629.63/month toward reducing your debt. H
2 answers:
Answer:
Interest save in 1 full month=$7.74
Step-by-step explanation:
In this question we have given
credit card balance,P = $2,856.74
rate,R=14.75%
monthly installment,n=$629.63
Therefore, Interest save in 1 full month=.............(1)
put values of n and R in equation (1)
Interest save in 1 full month=$7.74
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Answer:
(a) Ebony's taxable income = $42,540
(b) Amount of tax due = $5190.3
(c) Amount of tax owed = $4810.3
Step-by-step explanation:
Ebony's gross income = $46,660 (given)
Allowable tax deductions = $4,120 (given)
(a) Taxable Income = Gross income - Tax deductions
Ebony's taxable income = $46,660 - $4,120
Ebony's taxable income = $42,540
(b) Amount of tax due = 22% of Taxable Income,
Refer to the USA Tax Brackets for 2019 (See Attached image)
Amount of tax due = 10% on first $9,700 + 12% on ($39475-$9700) + 22% on ($42540-$39475).
Amount of tax due = 10% on first $9,700 + 12% on $29775 + 22% on $3065.
Amount of tax due = $970 + $3573 + $647.3
Amount of tax due = $5190.3
(c) Ebony pays $95 per week in tax. In four weeks (a month), she'd pay
$95 * 4 = $380
Amount of tax owed = Amount of tax due - Amount of tax paid
Amount of tax owed = $5190.3 - $380 = $4810.3
