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marusya05 [52]
2 years ago
9

Help! Can anyone help? I’ve been stuck.. I’ll make sure to give Brainly. The answer is not 3,850. Thank you.

Mathematics
1 answer:
erik [133]2 years ago
6 0

9514 1404 393

Answer:

  $3400

Step-by-step explanation:

The way these tax tables are structured, you pay 3% on the first $10,000, 5% on the next $40,000, and 5.5% on the remaining $20,000 above $50,000.

tax = 0.03·10,000 +0.05·(50,000 -10,000) +0.055·(70,000 -50000)

  = 300 + 2000 +1100

  = 3400 . . . dollars

The tax owed on $70,000 is $3,400.

_____

<em>Additional comment</em>

I like to rewrite this sort of table to a different format:

  • 3% of income . . . . . . . . . . . . . . . applies for income ≤ 10,000
  • (5% of income) -$200 . . . . . . . . applies for 10,000 < income ≤ 50,000
  • (5.5% of income) -$450 . . . . . . .applies for 50,000 < income ≤ 100,000

For an income of $70,000, the tax computation using this form is one multiplication and one addition, rather than 3 multiplications and 4 additions as used when navigating the given table.

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