The Mathematics of Money

Deon’s pizza shop had sales of $5,039.45 before tax in April. The sales tax rate in his area is 5.75%. Find the total amount of ...

Copyright © 2008, The McGraw-Hill Companies, Inc. A shoe store advertises a special “We pay the sales tax!” promotion. During t ...

384 Chapter 9 Taxes Suppose that the state where Clay lives charges a 4% sales tax rate. Clay lives in Huron County, which char ...

Copyright © 2008, The McGraw-Hill Companies, Inc. 1.4 Time Value of Money 385 Find the sales tax due on a $148.95 purchase if t ...

386 Chapter 9 Taxes the discussion and examples included in this chapter are intended to illustrate the income tax system in gen ...

Copyright © 2008, The McGraw-Hill Companies, Inc. If Taxable Income is Over But not Over The Tax is: $0 $15,100 10% of the amoun ...

388 Chapter 9 Taxes If Taxable Income is Over But not Over The Tax is: $0 $7,550 10% of the amount over $0 $7,550 $30,650 $755.0 ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Ta x Rate Zoe’s Income Subject to Rate Zoe’s Tax on This Income 10% (up to $7, ...

390 Chapter 9 Taxes Income Tax Withholding While income taxes are calculated and owed on the basis of the taxpayer’s annual inco ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Example 9.2.5 Erik is paid biweekly. He is married, and claims three exemption ...

392 Chapter 9 Taxes After the year has passed, each taxpayer files a tax return with the appropriate tax agencies, listing incom ...

Copyright © 2008, The McGraw-Hill Companies, Inc. In practice, Ramon will probably have the full 6.2% taken from his paycheck un ...

394 Chapter 2 Evaluating Projected Cash Flows EXERCISES 9.2 In the exercises for this section, use the 2006 tax year rates given ...

Copyright © 2008, The McGraw-Hill Companies, Inc. Calculate Steve and Nancy’s federal income tax based on the information given ...

396 Chapter 9 Taxes Tris has a part-time job, where his hours and hence his income vary from one biweekly pay period to the nex ...

Copyright © 2008, The McGraw-Hill Companies, Inc. How much total self-employment tax would be paid by someone who had $80,543 i ...

G. Additional Exercises What is the maximum percent of taxable income that a single person in the 25% tax bracket could actuall ...

Copyright © 2008, The McGraw-Hill Companies, Inc. square footage, age of the structure, the number of bedrooms and bathrooms, lo ...

400 Chapter 9 Taxes We should have: (25%)(Market Value)  $53,502 To fi nd the market value, we can divide both sides by 25% (i. ...

Copyright © 2008, The McGraw-Hill Companies, Inc. The assessed value of the property is $75,372, this is 75,372/1,000  75.372 t ...