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valentinak56 [21]
3 years ago
13

Your bank has two checking account options, one pays tax-free interest at a rate of 3% per annum and the other pays taxable inte

rest at a rate of 4.5% per annum. You are currently in a 24% marginal tax bracket. If you converted the tax-free interest rate to the comparable taxable interest rate you would find that:
Mathematics
1 answer:
avanturin [10]3 years ago
4 0

Answer:

The comparable tax rate is 3.95%, thus you should choose the 4.5% taxable account option.

Step-by-step explanation:

In order to convert the tax-free interest rate of 3% per year to the comparable taxable interest rate, one should consider that 3% is the interest rate after the marginal tax discount. If you are at the 24% marginal tax bracket, the comparable rate is:

r*(1-0.24)=0.03\\r=\frac{0.03}{0.76}\\r=0.0395\\r=3.95\%

The comparable tax rate is 3.95%, thus you should choose the 4.5% taxable account option.

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On a map, the distance from Akron to Cleveland measures 2 centimeters. What is the actual distance of the scale of the map shows
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60 kilometers because it is 2 cm just multiply by 2
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3 years ago
A man has 1 coins in his pocket, all of which are dimes and quarters. Aif the total value of his change is $2.75, how many dimes
VLD [36.1K]

Using a system of equations, it is found that there are 5 dimes and 9 quarters in his pocket.

<h3>What is a system of equations?</h3>

A system of equations is when two or more variables are related, and equations are built to find the values of each variable.

In this problem, the variables are given as follows:

  • Variable x: number of dimes in his pocket.
  • Variable y: number of quarters in his pocket.

He has a total of 14 coins, hence:

x + y = 14 -> y = 14 - x.

They are worth $2.75, hence, considering the value of each coin(dimes $0.1 and quarters $0.25), we have that:

0.1x + 0.25y = 2.75

Since y = 14 - x:

0.1x + 0.25(14 - x) = 2.75

x = (0.25*14 - 2.75)/0.15.

x = 5.

y = 14 - x = 14 - 5 = 9.

There are 5 dimes and 9 quarters in his pocket.

More can be learned about a system of equations at brainly.com/question/24342899

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4 0
1 year ago
Liam buys three identical plastic
liq [111]

The number of rectangular prism container that would be set on the shelf is: 4.

<h3>What is the Volume of a Rectangular Prism?</h3>

Volume of rectangular prism = length × width ×height

Given the following:

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  • Volume of each rectangular prism container = 135/3 = 45 in.³
  • One face = width × height = 4.5 × 2 = 9 in.

Find the length of one rectangular prism using the volume formula since volume for one prism = 45 in.³

45 = length × 9

length = 5 in.

Each rectangular prism container is 5 in. long, therefore, the number of the containers that can be set on the shelf that is 24 in. long, if the 4.5 in by 2 in. face touches each other = 24/5 = 4.8.

The fifth container won't fit in. Therefore, the number of rectangular prism container that would be set on the shelf is: 4.

Learn more about rectangular prism on:

brainly.com/question/1015291

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2 years ago
A radio commercial for a loan company states: “You only pay $0.29 a day for
yuradex [85]
A loan of $1500 attracts a daily interest of 3(0.29) = $0.87
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I = PrT; where P is the principal, r is the annual interest rate and T is the time.
500 x r x 1/365 = 0.29
r = 0.29 x 365 / 500 = 105.85/500 = 0.2117

Therefore,, Annual interest rate = 21.17%
7 0
2 years ago
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The length of a rectangular garden is 5 meters long. The area of the garden is 10 square meters. Which equation correctly relate
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Answer:

the width is 2 meters

Step-by-step explanation:

10 / 5 = 2

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