HELP please im doing a test and it's due in 7 minutes
1 answer:
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Answer:
$4,800
Step-by-step explanation:
The maximum contribution for traditional IRA in 2019 = $6000
Given that;
karen has a salary of $33,000 and rental income of $33,000; then total income = $66,000
AGI phase-out range for traditional IRA contributions for a single taxpayer who is an active plan participant is $64,000 – $74,000.
PhaseOut can be calculated as:
=
= 0.2 * 6000
= 1200
Therefore, the maximum amount that Karen may deduct for contributions to her traditional IRA for 2019 = The maximum contribution for traditional IRA in 2019 - PhaseOut
= $6000 - $1,200
= $4,800
Question:
Which scenario best matches the linear relationship expressed in the equation y = –14x + 1,700?
1) Kent has $1,700 in his bank account and spends $14 each week.
2) Kent has $1,700 in his bank account and deposits $14 each week.
3) Kent had $1,700 in his bank account and deposited another $14.
4) Kent has $14 in his bank account and spent $1,700.
Answer:
Option 1) Kent has $1,700 in his bank account and spends $14 each week.
Step-by-step explanation:
Let x denote the number of weeks.
Option 1: Kent has $1,700 in his bank account and -14x as the negative sign denotes how much amount he spend each week.
Thus, Option 1 is the correct answer.
Option 2: Kent has $1,700 in his bank account and deposits $14 each week.
Writing it as equation, we have, which is not the expressed linear equation.
Hence, Option 2 is not the correct answer.
Option 3: Kent had $1,700 in his bank account and deposited another $14.
Writing it as equation, we have, which is not the expressed linear equation.
Hence, Option 3 is not the correct answer.
Option 4: Kent has $14 in his bank account and spent $1,700.
Writing it as equation, we have, which is not the expressed linear equation.
Hence, Option 4 is not the correct answer.
Thus, the scenario that matches the linear equation relationship expressed in the equation is Option 1.
The answer is Kent has $1,700 in his bank account and spends $14 each week.