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nevsk [136]
3 years ago
6

Trudy is Jocelyn's friend. Trudy looks after Jocelyn's four-year-old son during the day so Jocelyn can go to work. During the ye

ar, Jocelyn paid Trudy $4,000 to care for her son. What is the amount of Jocelyn's child and dependent care credit if her AGI for the year was $30,000?
Business
1 answer:
grigory [225]3 years ago
7 0

Answer:

The correct answer to the following question is $810 .

Explanation:

For calculating the child and dependent care credit , we will first take out qualified dependent care expenses and then the percentage of qualified dependent care expenses.

So firstly, qualified dependent care expenses would be least of the three following given amount -

1) AGI of Jocelyn - $30,000

2) Amount paid to Trudy - $4000

3) $3000 available in case of one child.

So here $3000 would be the qualified dependent care expenses

Now the percentage of qualified dependent care expenses would be -

Maximum percentage available - 35% , but this is available to a person who has AGI of less than $15,000.

But Jocelyn has $30,000 of AGI, then 1% would decrease by every $2000,

so reduction in percentage = $30,000 - $15,000 / $2000 x 100

= 7.5% if rounded up to 8% , then percentage of qualified dependent care expenses would be 35% - 8% = 27%

Now child and dependent care credit = $3000 x 27%

=$810

=

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Answer:

We will consider positive interest rate which is i=0.21 or i=21%

Explanation:

The formula for Future value is:

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The present value will become:

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where:

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Since the condition is same present value,so the given data form the equation:

6000+5940(1+i)^{-1}=12000(1+i)^{-1/2}

Divide above equation by (1+i)^{-1}

6000(1+i)+5940=12000(1+i)^{1/2}

Let z=(1+i)^{1/2}\\. Above equation will become:

6000z^2+5940=12000z

Rearranging above equation:

5940-12000z+6000z^2=0

Solving the quadratic equation:

z=1.1,    z=0.9

Let z=(1+i)^{1/2}\\ will become:

z=(1+i)^{1/2}\\\\z^2=1+i

i=z^2-1

For z=1.1

i=(1.1)^2-1\\i=0.21

For z=0.9

i=(0.9)^2-1\\i=-0.19

we will consider positive interest rate which is i=0.21 or i=21%

7 0
3 years ago
Al contracted to sell his house to bev. subsequently, they both changed their minds and agreed to cancel the contract. the contr
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Given that <span>Al contracted to sell his house to bev. subsequently, they both changed their minds and agreed to cancel the contract.

The contract between al and bev is discharged by rescission.</span>
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3 years ago
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If you visited a doctor and the total cost of the visit was $50, but you had a $15
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In this case, since the patient has a copay of $15, then the patient will have to pay $15.

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which what-if analysis tool is the best option for complex calculations requiring constrained optimization?
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The what-if analysis tool would be the most adequate choice for intricate calculations that need contrived optimization:

b). Scenario manager

  • 'What-if analysis tool' is described as the tools that are employed to alter the values present in the cells.
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  • The what-if analysis tools have been categorized into three distinct types:
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Learn more about 'what-if tool' here:

brainly.com/question/14830872

8 0
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