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Tax Rates In New York state in 2010, the income tax rates
Chapter 2, Problem 74A(choose chapter or problem)
Problem 74A
Tax Rates In New York state in 2010, the income tax rates for a single person were as follows:
4% of the first $8000 earned,
4.5% of the next $3000 earned,
5.25% of the next $2000 earned,
5.9% of the next $7000 earned,
6.85% of the next $180,000 earned,
7.85% of the next $300,000 earned, and
8.97% of any amount earned over $500,000.
Let f(x) represent the amount of tax owed on an income of x dollars. Find each of the following, and explain in a sentence what the answer tells you. Source: New York State.
a. f(10,000)
b. f(12,000)
c. f(18,000)
d. Sketch a graph of f(x).
Questions & Answers
QUESTION:
Problem 74A
Tax Rates In New York state in 2010, the income tax rates for a single person were as follows:
4% of the first $8000 earned,
4.5% of the next $3000 earned,
5.25% of the next $2000 earned,
5.9% of the next $7000 earned,
6.85% of the next $180,000 earned,
7.85% of the next $300,000 earned, and
8.97% of any amount earned over $500,000.
Let f(x) represent the amount of tax owed on an income of x dollars. Find each of the following, and explain in a sentence what the answer tells you. Source: New York State.
a. f(10,000)
b. f(12,000)
c. f(18,000)
d. Sketch a graph of f(x).
ANSWER:
Solution:
Step 1 of 5:
In this problem, we need to find the following from the given information.