Question

Maths 10 min tax problem. I started it but I have no idea what I’m doing

Answer 1

€ 2932.54

Explanation:

Rate of interest for income upto 12012 = 0.5 %

Interest = 0.5% *12012

=0.05 *12012

= € 60.06

Rate of interest for income between 12012.01 to 19874 = 2%

Interest = 2% * 19874

= 0.02 * 19874

= € 397.48

Rate of interest for income between 19874.01 to 70044 = 4.5%

Interest = 0.045 * 55000

= € 2475

Anna's USC for the year = 60.06 + 397.48 + 2475

= € 2932.54