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musickatia [10]
3 years ago
12

David���s salary totals $79,000 per year. he can expect to pay federal income tax at a rate of 23.60%. how much money will david

pay in federal income taxes every year?
a. $60,356
b. $19,110
c. $18,644
d. $22,316
Business
2 answers:
Slav-nsk [51]3 years ago
8 0
C. $18,644 is the correst answer. Hope this helped

Nitella [24]3 years ago
4 0

Answer:

c) David pays in federal income taxes every year $18,644

Explanation:

Hi, in order to find out how much money you must pay for taxes you have to multiply your income by the tax rate that is charged. Since the problem does not provide any amounts that you could discount, we will assume that your total income is $79,000, therefore:

Taxes(Dollars)=Total Income*TaxRate

Taxes(Dollars)=79,000*0.2360=18,644

So, David would have to pay in federal income taxes every year the amount of $18,644

Best of luck

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Read 2 more answers
You want to buy your dream car which will cost you $5900. If you could invest your entire savings of $3500 at an annual interest
Liula [17]

Answer:

t = 4.607742347 years rounded off to 4.61 years

Explanation:

To calculate the number of years it will take an investment of $3500 to grow to $5900 at an annual interest rate of 12%, we will use the formula for the future value of cash flows. The formula can be written as follows,

Future value = Present value * (1+i)^t

Where,

  • i is the interest rate
  • t is the time in years

Plugging in the values for future value, present value and i, we can calculate the t to be,

5900 = 3500 * (1+0.12)^t

5900 / 3500 = (1.12)^t

1.685714286 = 1.12^t

Taking log on both sides.

Ln(1.685714286)  /  Ln(1.12)  =  t

t = 4.607742347 years rounded off to 4.61 years

7 0
3 years ago
Your father paid $10,000 (cf at t = 0) for an investment that promises to pay $750 at the end of each of the next 5 years, then
natta225 [31]

From the problem statement it is clear that here we need to find out simple interest rate. 
One do not get interest on any investment made at the end of tenure.  
Putting this mathematically:
 Let amount at the end of 5th year as A 
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 Tenure t = 5
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 R = 7.5 %
 
 Hence rate of return is 7.5% per annum (answer)
7 0
3 years ago
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