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lutik1710 [3]
3 years ago
12

Mitch, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bond

s. Using the U.S. tax rate schedule for year 2020, what is his average tax rate (rounded)

Business
1 answer:
omeli [17]3 years ago
3 0

Answer: $18,079.5‬0

Explanation:

The tax is to be paid on the $100,000 alone as the $10,000 is municipal interest and is therefore tax exempt.

Taxes on the $100,000 in 2020;

= 14,605.50 + ( 24% of any amount above 85,525)

= 14,605.50 + ( 24% * ( 100,000 - 85,525))

= $18,079.5‬0

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Felipe's grandparents have given him $1,500.00 to invest while he is in college to begin his retirement fund. He will earn 2.3%
deff fn [24]

Answer:

$1,642.83

Explanation:

The amount after four years can be calculated using the formula below

A = P(1 +r)^n

where A= amount

P = Principal amount $1500

r= interest 2.3% or 0.023

n = time in year; 4

A = $1500(1 + 0.023)^4

A= $1500(1.023)^4

A=$1500x 1.095222

A=$1,642.83

8 0
2 years ago
if you’ve just recovered from prostate cancer within the last few years, an insurance company might require you to pay a 20% ext
lesya692 [45]

Answer:

Gross premium = $100

Monthly Net premium = $70

Therefore 70 x 12 x 3 = 2,520

= 20% of 2, 520

2,520/100 x 20/1

GMP (Gross Monthly Premium) = $540

4 0
3 years ago
In a small country, the adult population equals 10,000. In that country, 10,000 people are in the labor force and 7000 people ar
Neporo4naja [7]

The unemployment rate is calculated by dividing the overall labor force's size by the number of jobless people, then multiplying the result by 100.

In light of the incomplete facts, the answer is: it is unknown.

<h3>How is the size of the labor force determined?</h3>

An estimation of the size of the labor force in an economy is the labor force participation rate. The calculation is the proportion of the working-age non-institutionalized population, aged 16 and older, who are employed or actively looking for work.

<h3>How are the numbers for those not working determined?</h3>

Divide the total civilian noninstitutional population by the number of people who are employed or actively seeking employment to find the formula for the labor force participation rate.

To know more about unemployment rate visit:-

brainly.com/question/17255561

#SPJ4

3 0
11 months ago
Assume that you have entered into a swap agreement for a notional of 100M USD under which every 6 months you agree to pay LIBOR
kozerog [31]

Answer:

0.25 Million

Explanation:

This is a situation of Interest rate swap in which I have entered in a agreement  that I will receive a Fixed interest rate of 4% and I will pay the floating interest rate. Net of Both will be a payment or receipt for me. If the floating rate will be higher than the fixed rate, then I have to pay for the difference and If the floating rate will be lower than the Fixed Rate I will receive the net amount.

after 6 months

Fixed Rate = 4%

Floating rat = LIBOR = 3.5%

Net Payment / receipt after 6 month = LIBOR - Fixed Rate = 3.5% - 4.0% = -0.5%

I will have receipt of 0.5%

Amount to be received = 100 M x 0.5% x 6/12 = 0.25 M

6 0
3 years ago
Job 412 was one of the many jobs started and completed during the year. The job required $9,500 in direct materials and 35 hours
forsale [732]

Answer:

The appropriate answer is "$8,457,50".

Explanation:

The given values are:

Direct material cost,

= $9,500

Direct labor cost,

= $10,400

Units completed in job 412,

= 4

Now,

The total cost for completion of job 412 will be:

=  Direct \ materials \ cost + Direct \ labor \ costs

On substituting the values, we get

=  9,500 + 10,400

=  19,900 ($)

Unit produced cost will be:

=  \frac{19,900}{4}

=  4,975 ($)

70% of unit produced cost will be the profit margin, then

=  70 \ percent\times 4,975

=  3,482.50 ($)

hence,

The price charged to the customer will be:

=  Unit \ product \ cost + Profit \ margin

On substituting the values, we get

=  4,975 + 3,482.50

=  8,457,50 ($)

3 0
3 years ago
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