A certain state charges a 12% tax rate on incomes up to $25,000 and 16% on income beyond that. If Rachel makes $33,000 per year, how much in

Question

A certain state charges a 12% tax rate on incomes up to $25,000 and 16% on income beyond that. If Rachel makes $33,000 per year, how much income tax will she pay?

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Savannah 1 week 2021-11-25T23:45:43+00:00 1 Answer 0 views 0

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    2021-11-25T23:47:35+00:00

    Answer:

    $4,280

    Step-by-step explanation:

    If the state charges 12% on incomes up to $25,000, that means you pay that rate on the first $25,000 you make, regardless of your total income. 0.12⋅25,000=3,000, so that’s how much Rachel would pay on her *first* $25,000. Now she also has to pay the higher rate of 16% on any income beyond that level. Her total income is $33,000 so subtracting $25,000 will give us her income beyond that level: $33,000−$25,000=$8,000. At the higher rate, she would pay 0.16⋅$8,000=$1,280 on that income. Her total income tax would be 3,000+1,280=$4,280 .

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