Question

b) Imagine that you earned $8,425 in one year. If the government enforces a 15% income tax, how much money would you owe in taxes at the end of the year? Show your work.

Answer 1

$1,263.75 is how much would be taxed
Take 8425 multiply it by 0.15 to get your answer

Answer 2

The tax would be $ 1,263.75

Explanation:

Given,

Total earning in one year = $ 8,425,

Income tax percentage per year on earning = 15%

Hence, the amount of tax at the end of one year

= 15% of the total earnings

= 15% of 8425

`=(15* 8425)/(100)`

`=(126375)/(100)`

= $ 1,263.75