Question

In a recent year, a single person could expect to pay $4930 in income taxes on an adjusted gross income of $29,000. How much more tax should the person expect to pay if her adjusted gross income increased by $2000, knowing that this would not move her into the higher tax bracket?

Answer 1

Can you find the percent the person pays if he pays $4930 out of 29000?

Answer 2

thats as far as i got im not sure what to do after that

Answer 3

What percent is it?

Answer 4

17%

Answer 5

So, at that tax rate, if he makes another $2000 how much more tax would he owe?

Answer 6

ok so is it .17x31000?

Answer 7

I don't think so.

Answer 8

How much MORE TAX would he have to pay. That is the question.

Answer 9

If you paid 17% tax, how much would you have to pay on $1000?

Answer 10

170

Answer 11

How much on $2000?

Answer 12

240

Answer 13

oh

Answer 14

thats the answer isnt it

Answer 15

Not 240. You multiplied wrong

Answer 16

haha 340

Answer 17

Put that down. That's your answer.

Answer 18

ok thanks

Answer 19

yw