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Chapter 6

Test Yourself

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02:16

Questions $37-38$ are base…

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Answer each question.I…

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Answer each question. See …

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Solve each problem to find…

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Questions $35-36$ are base…

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If income tax is $\$ 3502$…

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Solve each equation and ch…

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Form an equation and solve…

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Use the following data to …

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In the following exercises…

okay, so it says in a certain country all citizens must pay an annual tax of twenty percent off their first twenty thousand dollars of income and thirty percent off all income in excess of twenty thousand. So let's go ahead and make an equation. So we know that for the first twenty thousand dollars, they're going to pay twenty percent in taxes. So if we figure out how much money that they're paying for the first twenty, how much in Texas they're paying for the first twenty thousand dollars that they make? We know that that's going to be four thousand, because we just twenty thousand multiplied by point two, which is twenty percent expressed in a decimal. So since Michelle's tax was greater than that, that means that stuffing made more than twenty thousand dollars. So then we know that for the rest of the Mount that she made, she had to pay thirty percent in taxes, and then she paid a certain amount of taxes. So then we know that she paid a total of nine thousand two hundred fifty dollars, which composed of the first twenty thousand dollars worth of taxes, plus the second the thirty thousand dollarsworth taxes, which will be in call. Why? So that in order to find why all we have to do is attract four thousand from both sides. So we know that why, which is the amount of taxes paid on rest of money? It's going to be five thousand two hundred fifty dollars, so we can go ahead and fill that in right up here. I don't under fifty, so we know that X Times seer point three as you go to five thousand two hundred fifty dollars. So what we're saying here is that for all the money, more than twenty thousand dollars that she made, she paid thirty percent in taxes and that amount of taxes was five thousand two hundred fifty dollars so that in order to isolate our value X, we just have to divide both sides by zero point three and then we should get that X is equal to one seven five zero zero, which means this system out of money and more than twenty thousand that she made. So then she made not only the twenty thousand also the seventeen thousand five hundred dollars, and if we add that we should get thirty seven thousand and five hundred dollars is a total amount of money that she made. So then, with that, we needed to take that value and divide that by end divide that by one thousand to get in. And if we do this divided by one thousand, all that means it was We're going to move the decimal place over by three to the left, which, because there's three zeros in one thousand, we're going to take that and go from here. One, two three that becomes thirty seven point five.

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Answer each question.If $\$ 10,000$ is invested for 1 yr at $3.5 \%$ sim…

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