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According to a tax rate formula for a certain year, the amount of tax

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According to a tax rate formula for a certain year, the amount of tax  [#permalink]

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New post 12 Dec 2019, 03:34
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According to a tax rate formula for a certain year, the amount of tax owed by an individual whose annual income was between $31,850 and $77,100 was equal to a base tax of $4,386 plus 24 percent of the annual income that exceeded $31,850. According to this formula, what was the amount of tax owed by an individual whose annual income that year was $42,000?

A. 6800
B. 6444
C. 6822
D. 8662
E. 8861

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Re: According to a tax rate formula for a certain year, the amount of tax  [#permalink]

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New post 12 Dec 2019, 05:53
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According to a tax rate formula for a certain year, the amount of tax owed by an individual whose annual income was between $31,850 and $77,100 was equal to a base tax of $4,386 plus 24 percent of the annual income that exceeded $31,850. According to this formula, what was the amount of tax owed by an individual whose annual income that year was $42,000?

A. 6800
B. 6444
C. 6822
D. 8662
E. 8861

Sol:any amount greater than 31850=>(42000-31850)*24/100=2436

Base tax+variable tax=4386+2436=6822.
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Re: According to a tax rate formula for a certain year, the amount of tax   [#permalink] 12 Dec 2019, 05:53
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According to a tax rate formula for a certain year, the amount of tax

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