The income tax policy for residents of a tiny island nation that uses U. S. Dollars as its currency is as follows: The first $20,000 of a citizen's income is taxed at a rate of 10%. The next $30,000 of the citizen's income is taxed at a rate of 18%. Any amount over $50,000 is taxed at a rate of 27%.

How much income tax would an individual with an income of x dollars be charged, where x is at least $50,000?

0.10 (20,000) + 0.18 (30,000) + 0.27x

0.10 (x - 20,000) + 0.18 (x - 30,000) + 0.27x

0.10 (20,000) + 0.18 (30,000) + 0.27 (x - 50,000)

0.10 (20,000) + 0.18 (30,000) + 0.27 (50,000 - x)

Question

Justus Mcfarland

Mathematics

14 September, 20:08

The income tax policy for residents of a tiny island nation that uses U. S. Dollars as its currency is as follows: The first $20,000 of a citizen's income is taxed at a rate of 10%. The next $30,000 of the citizen's income is taxed at a rate of 18%. Any amount over $50,000 is taxed at a rate of 27%.

How much income tax would an individual with an income of x dollars be charged, where x is at least $50,000?

0.10 (20,000) + 0.18 (30,000) + 0.27x

0.10 (x - 20,000) + 0.18 (x - 30,000) + 0.27x

0.10 (20,000) + 0.18 (30,000) + 0.27 (x - 50,000)

0.10 (20,000) + 0.18 (30,000) + 0.27 (50,000 - x)

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Answers (1)

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August Taylor · Answer 1

C.

0.10 (20,000) + 0.18 (30,000) + 0.27 (x - 50,000)

Step-by-step explanation:

Let's take this one step at a time. First, the $20000 dollars is taxed by 10% =.10 as a decimal. So the first term is

.10 (20000)

Next, we have to add on the second term, wherein the next $30000 is taxed by. 18. So the second term is

.10 (20000) +.18 (30000)

Then, we have to take whatever's left, whatever we haven't yet taxed, and tax it at a 27% rate. This means x-50000, not x, because we're taking whatever's over the initial 50000 that we've already taxed.

0.10 (20,000) + 0.18 (30,000) + 0.27 (x - 50,000)