How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a ra
1 answer:
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Answer:
State income tax:
Step-by-step explanation:
Based on the interface, it seems like you have chosen lawyer as a career with the given salary of $115,820.
The chart given for state income tax is broken into two categories:
$21,400-$80,650 => 6.45%
$80,651-$215,400 => 6.65%
Since the chosen career's salary is $115,820, the career falls into the second range of 6.65% state income tax.
The deduction is simply the amount of money taxed. For a 6.65% state income tax, the deduction can be found from:
We need the exponents law
So if
a=3
b=1/2
then
where x represent every half a year.
So if
a=3
b=1/2
then
where x represent every half a year.