Suppose an income tax is levied on none of the first $1,000,10% of the next $9,000,and 20% of the remainder of earnings.How much tax would Miranda have to pay if she earned $20,000?

A) $2,900
B) $5,000
C) $4,900
D) $3,000

Question

Mustafa Orhan · Accepted Answer

Final Answer : A, Explanation :  Miranda would pay no tax on the first $1,000. For the next $9,000, she would pay 10%, which is $900. For the remaining $10,000 ($20,000 - $10,000 already accounted for), she would pay 20%, which is $2,000. Adding these amounts gives a total tax of $2,900.

Suppose an income tax is levied on none of the first $1,000,10% of the next $9,000,and 20% of the remainder of earnings.How much tax would Miranda have to pay if she earned $20,000?

A) $2,900
B) $5,000
C) $4,900
D) $3,000

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Learning Objectives

Related questions

Suppose an income tax is levied on none of the first $1,000,10% of the next $9,000,and 20% of the remainder of earnings.How much tax would Miranda have to pay if she earned $20,000?A) $2,900B) $5,000C) $4,900D) $3,000

Definitions

Learning Objectives

Learning Objectives

Related questions

Suppose an income tax is levied on none of the first $1,000,10% of the next $9,000,and 20% of the remainder of earnings.How much tax would Miranda have to pay if she earned $20,000?

A) $2,900
B) $5,000
C) $4,900
D) $3,000