Respuesta :
$9 ⇒ one hour
$9 × 2 ⇒ two hours
$9 × 3 ⇒ three hours
$9 × x ⇒ 'x' hours
Xavier's gross income = 9x
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Federal income tax = 10% of gross income
Federal income tax = 10% of 9x
10% as decimal is 0.1
Federal income tax = 0.1(9x)
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Medicare tax = 2.9% of gross income
Medicare tax = 2.9% of 9x
2.9% as decimal is 2.9÷100 = 0.029
Medicare tax = 0.029(9x)
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Social security tax = 12.4% of gross income
Social security tax = 12.4% of 9x
12.4% as decimal is 12.4÷100 = 0.124
Social security tax is = 0.124(0.9x)
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Net income = gross income - total tax
Net income = 9x - [0.1(0.9x) + 0.029(0.9x) + (0.124(0.9x)]
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The coefficient of x in Xavier's equation is for 'the number of hours worked'
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Xavier's gross income when x = 110 is 9×110 = $990
Total taxes that Xavier needs to pay is:
Federal tax + Social security tax + Medicare tax
[0.1 × 9x] + [0.124 × 9x] + [0.029 × 9x]
[0.1 × 990] + [0.124 × 990] + [0.029 × 990]
99+122.76+28.71 = 250.47
Net income = gross income - total tax
Net income = 990 - 250.47 = $739.53
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Difference between net income and gross income
990 - 739.53 = 250.47
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Xavier net income of $250.47 is the amount he received after taxes.
$9 × 2 ⇒ two hours
$9 × 3 ⇒ three hours
$9 × x ⇒ 'x' hours
Xavier's gross income = 9x
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Federal income tax = 10% of gross income
Federal income tax = 10% of 9x
10% as decimal is 0.1
Federal income tax = 0.1(9x)
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Medicare tax = 2.9% of gross income
Medicare tax = 2.9% of 9x
2.9% as decimal is 2.9÷100 = 0.029
Medicare tax = 0.029(9x)
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Social security tax = 12.4% of gross income
Social security tax = 12.4% of 9x
12.4% as decimal is 12.4÷100 = 0.124
Social security tax is = 0.124(0.9x)
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Net income = gross income - total tax
Net income = 9x - [0.1(0.9x) + 0.029(0.9x) + (0.124(0.9x)]
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The coefficient of x in Xavier's equation is for 'the number of hours worked'
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Xavier's gross income when x = 110 is 9×110 = $990
Total taxes that Xavier needs to pay is:
Federal tax + Social security tax + Medicare tax
[0.1 × 9x] + [0.124 × 9x] + [0.029 × 9x]
[0.1 × 990] + [0.124 × 990] + [0.029 × 990]
99+122.76+28.71 = 250.47
Net income = gross income - total tax
Net income = 990 - 250.47 = $739.53
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Difference between net income and gross income
990 - 739.53 = 250.47
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Xavier net income of $250.47 is the amount he received after taxes.