Someone please help me with the question above. It uses the words ‘income tax’ and I have a hard time understanding the differen
ce between income tax and tax payable.
1 answer:
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Well, we don't know how many years we're talking about?
Let's say we want to know the prize after one year: it's 540 +540 * 18%.
another way of writing it is 540* 118%. (this is 637.2)
after two years it will be:
540*118%*118%
we can also write it without =%: (as 100 % is always 1, 101% is 1.01 etc)
540*1.118*1.118
we can also make a more general statement:
n=number of years that have passed:
prize of the clock now=540*
Let's say we want to know the prize after one year: it's 540 +540 * 18%.
another way of writing it is 540* 118%. (this is 637.2)
after two years it will be:
540*118%*118%
we can also write it without =%: (as 100 % is always 1, 101% is 1.01 etc)
540*1.118*1.118
we can also make a more general statement:
n=number of years that have passed:
prize of the clock now=540*