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CaHeK987 [17]
3 years ago
11

George Washburn had earnings from his salary of $34,000, interest on savings of $800, a contribution to a traditional individual

retirement account of $1,500, and dividends from mutual funds of $600. George's adjusted income (AGI) would be:_______.a. $62,045.
b. $60,060.
c. $55,450.
d. $57,310.
Business
1 answer:
elena-s [515]3 years ago
4 0

Answer:

$33,900 (none of the options given in the question are correct).

Explanation:

George's adjusted gross income (AGI) will include his personal earnings from his salary, the interest that he has earned from savings, and the dividends that he got from mutual funds, but it will not include his contribution to his individual retirement account, because individual retirement accounts are not included in AGI.

Therefore, George's AGI is equal to:

$34,000 + $800 + $600 - $1,500 = $33.900

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Explanation:

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The arguments against raising the minimum wage is that it can lead to inflation. Inflation in the rise in the price for goods and services. When there's an increase in minimum wage, sellers may increase the price of goods as there'll be more money to spend by households. Also, it can lead to losses of jobs as employersay have to cut down cost on order to be able to increase the wages of some workers and thereby may result in some workers being laid off.

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Read 2 more answers
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