Kim is a single woman in her mid-20s working while taking college credits to earn a bachelors degree. She is financing her educa
tion herself through both her income and taking out student loans. Her earnings in 2010 were $30,000 before taxes. She paid $5000 intuition and paid $350 interest on her student loan. In filing her state tax return form Kim takes a deduction for tuition paid and the interest paid on the loan. In taking these two deductions by how much did she lower taxable income? What is her taxable income now? What is her marginal tax rate? What will she owe in taxes for 2010?
1 answer:
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Answer:
The root of the equation is x ≈ 0.162035
Step-by-step explanation:
To find the roots of the equation you can use the Newton-Raphson method.
It is a way to find a good approximation for the root of a real-valued function f(x) = 0. The method starts with a function f(x) defined over the real numbers, the function derivative f', and an initial guess for a root of the function. It uses the idea that a continuous and differentiable function can be approximated by a straight line tangent to it.
This is the expression that we need to use
For the information given:
For the initial value you can choose
although you can choose any value that you want.
So for approximation
Next, with you put it into the equation
, you can see that this value is close to 0 but we need to refine our solution.
For approximation
Again we put into the equation
this value is close to 0 but again we need to refine our solution.
We can summarize this process in the following table.
The approximation gives you the root of the equation.
When you plot the equation you find that only have one real root and is approximate to the value found.
The two expressions that represent the retail price of cars is: Retail price = 1.21c and Retail price = c + 0.21c
<em><u>Solution:</u></em>
Given that,
Rick buys remote control cars to resell
He applies a markup of 21%
Let "c" be the original price of remote control cars
To find: Expression for retail price of car
We know that,
Retail price = original price + markup
Here, markup price = 21 % of original price
Markup price = 21 % of c
Therefore, substituting the given values we get,
Retail price = c + 21 % of c
This can also be expressed as,
Thus two expressions that represent the retail price of cars is: Retail price = 1.21c and Retail price = c + 0.21c