QuestionCalculate the income tax function $h(x)$ for a single person based on taxable income $x$ and find $h(1260)$ , $h(7160)$ , $h(49070)$ . Interpret $h(7160) = \$154.80$ . What does this imply?

Studdy Solution

STEP 1

Assumptions1. The function h(x) represents the tax rule for a single person's taxable income in a state. . The function is defined in three parts, each representing a different income bracket.
3. The taxable income, x, is a non-negative real number.
4. The function values h(1260), h(7160), and h(49070) are to be found and interpreted.
5. The value of h(7160) is given as $154.80.

STEP 2

First, we need to find the value of h(1260). Since1260 is in the first income bracket (0 <= x <6000), we use the rule for that bracket.
$h(1260) =0.02 \times1260$

STEP 3

Calculate the value of h(1260).
$h(1260) =0.02 \times1260 = \$25.2$

STEP 4

Now, we need to find the value of h(7160). Since7160 is in the second income bracket (6000 <= x <11000), we use the rule for that bracket.
$h(7160) =120 +0.03 \times (7160 -6000)$

STEP 5

Calculate the value of h(7160).
$h(7160) =120 +0.03 \times (7160 -6000) = \$154.8$

STEP 6

Next, we need to find the value of h(49070). Since49070 is in the third income bracket (x >=11000), we use the rule for that bracket.
$h(49070) =270 +0.04 \times (49070 -11000)$

STEP 7

Calculate the value of h(49070).
$h(49070) =270 +0.04 \times (49070 -11000) = \$182$

STEP 8

Now, we interpret the values. The value of h(1260) = \$25.2 means that an individual with a taxable income of \$1260 will have to pay \$25.2 as tax.

STEP 9

The value of h(716) = \$154.8 means that an individual with a taxable income of \$716 will have to pay \$154.8 as tax.

STEP 10

The value of h(49070) = \$1828 means that an individual with a taxable income of \$49070 will have to pay \$1828 as tax.

STEP 11

From the value of h(7160), we can infer that an individual with a taxable income of \$7160 will have to pay \$154.8 as tax. So, the correct option is B.

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QuestionCalculate the income tax function $h(x)$ for a single person based on taxable income $x$ and find $h(1260)$ , $h(7160)$ , $h(49070)$ . Interpret $h(7160) = \$154.80$ . What does this imply?

Studdy Solution

STEP 1

STEP 2

First, we need to find the value of h(1260). Since1260 is in the first income bracket (0 <= x <6000), we use the rule for that bracket.
$h(1260) =0.02 \times1260$

STEP 3

Calculate the value of h(1260).
$h(1260) =0.02 \times1260 = \$25.2$

STEP 4

Now, we need to find the value of h(7160). Since7160 is in the second income bracket (6000 <= x <11000), we use the rule for that bracket.
$h(7160) =120 +0.03 \times (7160 -6000)$

STEP 5

Calculate the value of h(7160).
$h(7160) =120 +0.03 \times (7160 -6000) = \$154.8$

STEP 6

Next, we need to find the value of h(49070). Since49070 is in the third income bracket (x >=11000), we use the rule for that bracket.
$h(49070) =270 +0.04 \times (49070 -11000)$

STEP 7

Calculate the value of h(49070).
$h(49070) =270 +0.04 \times (49070 -11000) = \$182$

STEP 8

Now, we interpret the values. The value of h(1260) = \$25.2 means that an individual with a taxable income of \$1260 will have to pay \$25.2 as tax.

STEP 9

The value of h(716) = \$154.8 means that an individual with a taxable income of \$716 will have to pay \$154.8 as tax.

STEP 10

The value of h(49070) = \$1828 means that an individual with a taxable income of \$49070 will have to pay \$1828 as tax.

STEP 11

From the value of h(7160), we can infer that an individual with a taxable income of \$7160 will have to pay \$154.8 as tax. So, the correct option is B.

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QuestionCalculate the income tax function h(x)h(x)h(x) for a single person based on taxable income xxx and find h(1260)h(1260)h(1260), h(7160)h(7160)h(7160), h(49070)h(49070)h(49070). Interpret h(7160)=$154.80h(7160) = \$154.80h(7160)=$154.80. What does this imply?

Studdy Solution

STEP 1

STEP 2

First, we need to find the value of h(1260). Since1260 is in the first income bracket (0 <= x <6000), we use the rule for that bracket.h(1260)=0.02×1260h(1260) =0.02 \times1260h(1260)=0.02×1260

STEP 3

Calculate the value of h(1260).h(1260)=0.02×1260=$25.2h(1260) =0.02 \times1260 = \$25.2h(1260)=0.02×1260=$25.2

STEP 4

Now, we need to find the value of h(7160). Since7160 is in the second income bracket (6000 <= x <11000), we use the rule for that bracket.h(7160)=120+0.03×(7160−6000)h(7160) =120 +0.03 \times (7160 -6000)h(7160)=120+0.03×(7160−6000)

STEP 5

Calculate the value of h(7160).h(7160)=120+0.03×(7160−6000)=$154.8h(7160) =120 +0.03 \times (7160 -6000) = \$154.8h(7160)=120+0.03×(7160−6000)=$154.8

STEP 6

Next, we need to find the value of h(49070). Since49070 is in the third income bracket (x >=11000), we use the rule for that bracket.h(49070)=270+0.04×(49070−11000)h(49070) =270 +0.04 \times (49070 -11000)h(49070)=270+0.04×(49070−11000)

STEP 7

Calculate the value of h(49070).h(49070)=270+0.04×(49070−11000)=$182h(49070) =270 +0.04 \times (49070 -11000) = \$182h(49070)=270+0.04×(49070−11000)=$182

STEP 8

Now, we interpret the values. The value of h(1260) = \$25.2 means that an individual with a taxable income of \$1260 will have to pay \$25.2 as tax.

STEP 9

The value of h(716) = \$154.8 means that an individual with a taxable income of \$716 will have to pay \$154.8 as tax.

STEP 10

The value of h(49070) = \$1828 means that an individual with a taxable income of \$49070 will have to pay \$1828 as tax.

STEP 11

From the value of h(7160), we can infer that an individual with a taxable income of \$7160 will have to pay \$154.8 as tax. So, the correct option is B.

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Studdy solves anything!

Start learning now

Download Studdy AI Tutor now. Learn with ease and get all help you need to be successful at school.

QuestionCalculate the income tax function $h(x)$ for a single person based on taxable income $x$ and find $h(1260)$ , $h(7160)$ , $h(49070)$ . Interpret $h(7160) = \$154.80$ . What does this imply?

First, we need to find the value of h(1260). Since1260 is in the first income bracket (0 <= x <6000), we use the rule for that bracket.
$h(1260) =0.02 \times1260$

Calculate the value of h(1260).
$h(1260) =0.02 \times1260 = \$25.2$

Now, we need to find the value of h(7160). Since7160 is in the second income bracket (6000 <= x <11000), we use the rule for that bracket.
$h(7160) =120 +0.03 \times (7160 -6000)$

Calculate the value of h(7160).
$h(7160) =120 +0.03 \times (7160 -6000) = \$154.8$

Next, we need to find the value of h(49070). Since49070 is in the third income bracket (x >=11000), we use the rule for that bracket.
$h(49070) =270 +0.04 \times (49070 -11000)$

Calculate the value of h(49070).
$h(49070) =270 +0.04 \times (49070 -11000) = \$182$