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irina1246 [14]
3 years ago
6

Consider the following data that describe the relationship between income and a tax. Income Taxes $20,000 $3,400 16,000 3,000 12

,000 2,400 8,000 1,600 4,000 800 The tax may be best described as________
Business
2 answers:
Charra [1.4K]3 years ago
7 0

Answer:

Consider the following data that describe the relationship between income and a tax.

Income    Taxes :

$20,000    $3,400;

$16,000     $3,000;

$12,000     $2,400;

$8,000     $1,600

$4,000      $800

The tax may be best described as________

<em>Progressive income tax system</em>

Explanation:

This system of tax is the progressive income tax system where bigger income attracts bigger tax, also smaller income attracts smaller tax, from the illustration a person earning $20,000 pays a tax $3,400 as opposed to the person that earns $4,000 who pays a tax of $800.

The progressive income tax system is a system of tax in which the bigger earners pay more taxes to the government more than the people earning less. <em>This system of tax is aimed at making sure that the gap between the low, middle and high-income earners are minimized.</em>

pav-90 [236]3 years ago
3 0

Answer: Proportional at lower income levels and regressive at higher income levels.

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So you can retire early, you have decided to start saving $500 a month starting one month from now. You plan to retire as soon a
Mashcka [7]

Answer:

It will take him 45 years

Explanation:

In this question, we are asked to calculate the number of years it would take to accumulate $1,000,000 if there is a plan to save $500 per month at an interest rate of 5%.

To solve this, we use the following mathematical formula:

Future value of annuity = Annuity payment * {(1+r)^n - 1}/r

Where r is the monthly interest rate and n is the number of months it will take.

From the question, we can identify the following;

Since he earns 5% interest on savings, the actual monthly interest rate will be 5%/12 = 0.4167% = 0.004167

Annuity payment = monthly payment = $500

Future value of annuity = $1,000,000

We substitute these values into the equation:

1,000,000 = 500 * [(1+0.004167)^n - 1]/0.004167

8.334 = (1.004167)^n - 1

1+8.334 = (1.004167)^n

9.334 = (1.004167)^n

To get n, we simply take the log on both sides of the equation

Log 9.334= nLog 1.004167

n = Log9.334/Log1.004167

n = 537 months

Question asks to calculate in years

there are 12 months in a year. The number of years it will take will be 537/12 = 44.76 years and that’s approximately 45 years

8 0
3 years ago
A monopoly is a market that has--
Dovator [93]

The answer is D, A single supplier of a good or service.

3 0
3 years ago
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BestBank's Visa credit card discloses an A.P.R. of "Prime Rate + 5.74% to Prime Rate + 22.74%." If the Prime Rate increases from
Brrunno [24]

The prime rate is the base rate for any financial transaction. The prime rate is considered for each type of lending instruments by the bank. bank add a margin % over the prime rate and offer loan/instrument at the increased rate.

In the given case, the BestBank's Visa credit card discloses an A.P.R. of "Prime Rate + 5.74% to Prime Rate + 22.74%, which means the A.P.R is calculated on the basis of Prime rate and any change in prime rate will directly affect the A.P.R.

The Prime Rate has increased from 3.25% to 4.25%, it means the increase of 1%. Hence the A.P.R. Shall also increase by 1%.

Hence the correct answer is:

b. Increase in A.P.R by 1%

4 0
3 years ago
Technology helps managers to monitor and control business activities and includes each of the following except:
rewona [7]

Answer:

Correct Answer:

b. Less extensive testing of records

Explanation:

Technology which is the use of machines or electronical devices to make work easier is applied in most organizations by organizational managers. <em>Unfortunately, less extensive testing of records is not one of its uses but rather detailed and extensive testing in order to check if there is any error in the records.</em>

8 0
3 years ago
A local college of business offers an outstanding business school education. Cali pays the tuition to attend and earns her MBA w
GrogVix [38]

Answer:

Yes, there is marketing exchange.

Explanation:

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So, in this case, there is marketing exchange of paying the tuition fees for or against the knowledge and it directly lead to the new job of Cali.

8 0
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