Question

According to the Bureau of Labor Statistics, in 2014, the average annual salary for a Medical Assistant was $31,220. Assuming that a Medical Assistants' salary puts them in the 20% income tax bracket, determine how much money they would pay in income tax.

Answer 1

$6244

Explanation:

We know that the average annual salary for a Medical Assistant was $31,220 and they are liable to pay 20% income tax.

So we are to find out how much money they would pay in income tax.

Income tax payed = 20% of $31,220 =
`\frac { 2 0 } { 1 0 0} * 31220`

Income tax payed by Medical Assistant = $6244