5.5 - Solving Quadratic Equations - Perfect Square Trinomials and Difference of Squares
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Answer: Simple interest rate = 3%.
Step-by-step explanation: We are given invested amount = $5000.
Number of years of investment = 4 years.
Interest earned = $600.
Simple interest formula.
I = P R T.
Where I is the earned interest, P is the invested amount , R is the rate of interest and T is the time in years.
Plugging values in formula, we get
600 = 5000 × R × 4
600 = 20000R.
Dividing both sides by 20000, we get
0.03 = R.
Multiplying by 100 to convert it in percentage, we get
0.03 × 100 = R
R = 3 %.
The tax that is not collected by the federal government is . Option (b) is correct.
Further explanation:
Given:
The options are as follows.
A. Sales tax
B. Excise tax
C. Income tax
D. Payroll tax
Explanation:
The sales tax is a tax that is imposed on the products sold. The sale tax is collected by the federal government.
The excise tax is the tax that is imposed on purchasing the goods .The excise tax is not collected by the federal government.
The tax that is imposed on the salaries of an individual or company is known as the income tax.
The income tax is collected by the federal government.
The tax that is imposed on the employer as the percentage of salaries of employees is known as the payroll tax. The payroll tax is collected by the federal government.
Option (a) is not correct.
Option (b) is correct.
Option (c) is not correct.
Option (d) is not correct.
Hence, the tax that is not collected by the federal government is Option (b) is correct.
Learn more:
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Answer details:
Grade: High School
Subject: Mathematics
Chapter: Investment
Keywords: Federal government, tax, sales tax, excise tax, income tax, payroll tax, state government, revenue, local government.