Question

many income tax systems are calculated using a tiered method. Under certain tax law, the first $100 000 of earning are subject to a 35% tax, earnings greater than $100 000 and up to $500 000 are subjects to a 45% tax. Any earnings greater than $500 000 are taxed at 55%. Write a piecewise function that models this situation. :D

Answer 1

I'm not the best at writing piecewise so

.35x if x<100,000

.45x if 100,000≤x≤500,000

.55x if x≥500,000

Answer 2

the answer is :

0.35x, if 0 # x # 100 000
0.45x 2 10 000, if 100 000 , x # 500 000
0.55x 2 60 000, if x . 500 000

Answer 3

I just need someone to explain it

Answer 4

basically this is a chart on how they charge taxes. So for the first level of income (100K) you pay 35% tax on that amount

Answer 5

anything b.w 100K - 500K is charged at 45%
excess over 500K is charged at 55%

Answer 6

For instance say you made 350K
100K * .35 = 35,000
250K * .45 = 11,250
total taxes is = 46,250

Answer 7

do you understand the conceptual logic?

Answer 8

thank you, i understand your explanation, however in answer it said the equation would be 0.45x-10000 if x is between 100000 and 500000

Answer 9

and 0.55x-60000 if x is greater than 500000

Answer 10

The first 100K is taxed at a different rates - which is why it is called tiered

Answer 11

Think of it as done in levels. It is not as if you earned 350K and only pay
350K *.45 =

Answer 12

okay - they are explaining to you in a way that "depending on what level of income bracket you are in" you pay this amount of taxes.

So in this case - you earned 350K you would pay 15750 worth of taxes (350k * .45)

Answer 13

Your statement states the "first 100k"...

Answer 14

the answer your book gave you is not correct