Tom buys $20,000 worth of stock, and sells it eight months later for $28,000. If he is required to pay 15% capital gains tax on his profits, how much tax will he pay?

Question

anonymous · Answer

Can you help writing the initial equation?

anonymous · Answer

oh-I really need the beginning equation in algebraic format to show my work. I'm just not sure how to write it down.

anonymous · Answer

i don't know how you would put that in algebraic format other than 28000+15%

anonymous · Answer

ok, that helps, you are an angel for helping me! I am now a fan! Thanks from a grandma that's back in school. :)

anonymous · Answer

aw! you're welcome!  :)