document.write( "Question 1147345: For an income over $10,000 a state charges a fixed tax of $300 plus 6.5% of the income in excess of $10,000.
\n" ); document.write( "I need to calculate the income tax for an income of $80,000 and determine the amount of income if $7,508.50 was the amount paid in taxes. Can you give guidance on the correct format to complete these.
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Algebra.Com's Answer #768668 by ikleyn(52786) $\"\"$ $\"About$

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\n" ); document.write( "\n" ); document.write( "1. The income tax for an income of $80,000\r
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document.write( "Take fixed tax of $300, and add to it 6.5% of excess of $80,000 over $10,000.\r\n" );
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document.write( "The excess is $80,000 - $10,000 = $70,000.\r\n" );
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document.write( "The 6.5% of it is  0.065*70000 = 4550.\r\n" );
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document.write( "So, your answer is  $300 + $4550 = $4850.\r\n" );
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\n" ); document.write( "\n" ); document.write( "2. Determine the amount of income if $7,508.50 was the amount paid in taxes\r
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document.write( "$7,508.50 is greater than $300.\r\n" );
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document.write( "It means that the income exceeds $10,000.\r\n" );
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document.write( "The difference  7,508.50 dollars MINUS 300 dollars = 7,208.50  is 6.5%  od the exceed over $10,000.\r\n" );
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document.write( "Hence, this exceed is   = 110900 dollars.\r\n" );
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document.write( "Thus the total income is  $10,000 + $110900 = $120900.\r\n" );
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\n" ); document.write( "\n" ); document.write( "Solved.\r
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\n" ); document.write( "\n" ); document.write( "Is everything clear to you in my solution ?\r
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\n" ); document.write( "\n" ); document.write( "If not, then let me know, by referring to the problem's ID number 1147345.\r
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