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3 years ago

Nicholas earned 8% in his savings account. if he is in the 28% tax bracket, what is his after-tax savings rate of return?

1 answer:

5 0

If Nicholas is going to pay 28% in taxes of the 8% interest he is earning, then his net percentage would be 72% of the 8%.

To determine this overall rate of return multiply 0.72 x 0.08.

0.72 x 0.08 = 0.0576 or 5.76 % rate of return.

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ANSWER

$y=\frac{2}{3}x+\frac{4}{3}$

EXPLANATION

We want to find the equation of the straight line given on the graph.

The general form of a linear equation is given as:

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where m = slope; b = y-intercept

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Therefore, we have that the equation of the line is:

$\begin{gathered} y-2=\frac{2}{3}(x-1) \\ y-2=\frac{2}{3}x-\frac{2}{3} \\ y=\frac{2}{3}x-\frac{2}{3}+2 \\ y=\frac{2}{3}x+\frac{4}{3} \end{gathered}$

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