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Mashcka [7]
3 years ago
14

Suppose you buy lunch for $16.60 that includes a 8% sales tax. How much did the restaurant charge you for the lunch (excluding a

ny tax) and how much does the restaurant owe for sales tax?
Business
1 answer:
Valentin [98]3 years ago
4 0

Answer: You were charged $15.37 pre tax

Restaurant will pay $1.23 in sales taxes

Explanation:

We are going to have to use our trusted friend Algebra to solve this one.

In calculating the amount paid for the lunch without any taxes we will say that "x" is the amount that you paid without taxes. Putting it in an equation would be,

16.60 = x * 1.08

16.60 = 1.08x

x = 16.60/ 1.08

= 15.37

You were charged $15.37 without taxes.

To calculate how much the restaurant is to pay in taxes you can just subtract the post tax and pre tax figures which would be,

= 16.6 - 15.37

= $1.23

Restaurant will pay $1.23 in taxes.

If you need any clarification do react or comment.

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Jackson has the choice to invest in city of Mitchell bonds or Sundial, Inc. corporate bonds that pay 5.6 percent interest. Jacks
marshall27 [118]

Answer: 4.37%

Explanation:

As interest is tax deductible, the Sundial Interest needs to be adjusted for tax to find out the true return.

Jackson as a single tax payer earning $47,500 in 2019 has a tax rate of 22% according to the IRS Tax bracket for that year.

That means that the interest that true interest that Sundial is offering him is,

= 5.6 * ( 1 - tax rate)

= 5.6 * ( 1 - 0.22)

= 5.6 * 0.78

= 0.04368

= 4.37%

To make Jackson indifferent with the same amount of risk, the city of Mitchell would have to offer him the same interest that Sundial is offering net of tax which is 4.37%.

8 0
2 years ago
If there is an increase in market demand in a perfectly competitive market, then in the short run
katovenus [111]

Answer:

The correct answer is option d.

Explanation:

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This increase in market price will cause the individual demand curves to move upwards. As the price increases, the profits earned by the firms will increase as well.

Profit to a firm is the difference between its total revenue and total cost, as the price increases, revenue will increase and cost will remain the same. This will cause profits to increase.

7 0
3 years ago
The process of providing focus for employees and motivating them to achieve organizational gool's. Select one a. Effective b. Di
mina [271]

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Explanation:

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5 0
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You deposit $3000 into an account which earns 5.1% interest per year, compounded annually. your friend simultaneously deposits $
valina [46]
3000 (1+0.051)^(t)=2000 e^(0.075t)
Solve for t using Google calculator
To get
T=16.05 years

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