I think that number one is C. I'll try and solve the second one as well.
Answer: 13.7
Step-by-step explanation: I used the pythagoream theorum.
Years = Natural Logarithm(Total / Principal) / rate
Years = ln (1,200 / 1,000) / .06
Years = ln (6 / 5) / .06
Years = ln (1.2) / .06
Years = 0.18232155679 / .06
Years =
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3.0386926132
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Years =
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3.0 (rounded)
</span></span></span>answer is B
Answer:
$300 was deducted from tax. The tax rate is 26.1%
Step-by-step explanation:
An employee earns a gross pay of $1,200.00 per week. The employee’s net pay is $850.00. The employee’s voluntary 401(k) contribution is $50.00 per month.
There was blank deducted for taxes. The tax rate is blank
Solution:
Contributions that are made for retirement such as 401(k) contribution plans are made on a pretax basis. This means that they are removed from your taxable income, thereby reducing the tax.
Gross pay = $1200
Taxable income = Gross pay - 401(k) contribution
Taxable income = $1200 - $50 = $1150
Net pay = $850
Tax = Taxable income - Net pay
Tax = $1150 - $850
Tax = $300
Tax rate = (Tax / taxable income) * 100%
Tax rate = ($300 / $1150) * 100% = 26.1%