suppose the income tax rate is 6%. determine the amount of money remaining after paying income tax on an…
suppose the income tax rate is 6%. determine the amount of money remaining after paying income tax on an income of\n1 $50,000.\n2 $80,000.\n3 $95,000
Answer
Explanation:
Step1: Calculate remaining money for $50,000
If income is $50,000 and tax rate is 6%, remaining money is (50000\times(1 - 0.06)=50000\times0.94 = 47000)
Step2: Calculate remaining money for $80,000
If income is $80,000 and tax rate is 6%, remaining money is (80000\times(1 - 0.06)=80000\times0.94 = 75200)
Step3: Calculate remaining money for $95,000
If income is $95,000 and tax rate is 6%, remaining money is (95000\times(1 - 0.06)=95000\times0.94 = 89300)
Answer:
- $47,000
- $75,200
- $89,300