Jamie is self-employed and pays her taxes quarterly. For the first qua

Question

Jamie is self-employed and pays her taxes quarterly. For the first quarter, she paid $1,700 dollars in taxes, based on her income. She expects her taxes to increase by 14 percent from the first quarter to the second quarter, by 17.5 percent from the second quarter to the third quarter, and by 21 percent from the third quarter to the fourth quarter.

In the table below, identify the amount of taxes Jamie can expect to pay in the third quarter. Also, based on the information given, identify how much more in taxes Jamie will pay in the fourth quarter than in the second quarter. Select only one answer in each column.

Kirtika2507 · Answer

1700*117.5= 1938 2nd quarter
1938* 117.5= 2277.15 3rd quarter
2277.15* 121= 2755.35

ans--3rd quarter-- 2277.15

how much more in taxes Jamie will pay in the fourth quarter than in the second quarter-- ans--817.35

Sr1994 · Answer

Let's find out the taxes in respective quarters
1st quarter = 1700 (given)

2nd quarter = 1700 + 1700 (14/100) = 1938 (make use of calculator)

3rd Quarter = 1938 + 1938 (17.5/100) = 2277.15

4th Quarter = 2277.15 + 2277.15(21/100) = 2755.3515

1.  
3rd Quarter Tax =   2277.15

2.  
How much more in taxes Jamie will pay in the fourth quarter than in the second quarter = 2755.3515 - 1938 =   817.35

Sajjad1994 · Answer

Competition mode is off now.

OA is:

3rd Quarter Texes:  2277.15
 Difference between 3rd and 4th Quarters:  817.35

Invincible_147 · Answer

Can anyone clarify this- According to the Question she earns Lets Say 17,000$ and the tax for 1st quarter is 1700$ (10 %). But now the tax is increased by 14%, so according to our assumption the total tax should be 24%. So if we check 17000*.24= 4080 , and if I try to calculate from the method given in the answers - 1700*1.14= 1938, obviously these two don't match.

So according to me, the question has not provided the salary or the % for the 1st quarter, then the question is not sufficient. As an increase of 14 % could be from maybe 10 %,20%, or any other percentage value.

So according to me, the question has not provided the salary or the % for the 1st quarter, then the question is not sufficient. As an increase of 14 % could be from maybe 10 %,20%, or any other percentage value.

AshwinChadha · Answer

Hey  Sajjad1994 ,

Shouldn't the second column/heading for the answers option say "Difference between 2nd and 4th quarters" as that's what is mentioned in the statement and not "3rd and 4th quarter"?

The answer is also the difference between the tax paid for the second and the fourth quarter, so, that's why.

Cowtommi · Answer

2nd Question should be revised.

"Difference between 3rd and 4th Quarters"  is  "478.20"

3rd Quarter = 1938 + 1938 (17.5/100) = 2277.15

4th Quarter = 2277.15 + 2277.15(21/100) = 2755.3515

There is no 478.20 on the answer choice.

bb · Answer

Thank you. Yes! I have corrected the heading to reflect the setup of the question. 
Thank you

ArpitJain1997ew · Answer

Poor quality question

bb · Answer

It is McGraw Hill and they are pretty janky but since there are few DI questions available, we are keeping them around. Any reason in particular however you identified this one as poor quality?

3rd Quarter Texes	Difference between 2nd and 4th Quarters	Amount (In Dollars)
		238
		817.35
		1938
		2277.15
		2255.35
		2965.05

Jamie is self-employed and pays her taxes quarterly. For the first qua

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Jamie is self-employed and pays her taxes quarterly. For the first qua

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