anonymous
  • anonymous
I don't get this: Emily earns $48,500 per year. Her personal allowance is $6475. Her income is then taxed at 20% up to $37,400 and then at 40% above $37,400. How much does Emily earn after tax?
Mathematics
  • Stacey Warren - Expert brainly.com
Hey! We 've verified this expert answer for you, click below to unlock the details :)
SOLVED
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.
katieb
  • katieb
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
anonymous
  • anonymous
Okay *-^
anonymous
  • anonymous
Sorry I made a mistake
anonymous
  • anonymous
One sec

Looking for something else?

Not the answer you are looking for? Search for more explanations.

More answers

anonymous
  • anonymous
Hehe
texaschic101
  • texaschic101
Isn't your personal allowance income that is NOT taxed ? So wouldn't you take 6475 from 48,500 first ? Then figure out the taxes after that ?
anonymous
  • anonymous
Yah that was what I thought too T-T
anonymous
  • anonymous
So i think you subtract 6475 off 48,500 coz it is what she spends before tax is collected right?!
anonymous
  • anonymous
But then what!??
anonymous
  • anonymous
I would take away 6475. from 48500 and then apply the 20% to the first 37,000 ad then the 40% to the rest
anonymous
  • anonymous
Okay then ^-^
texaschic101
  • texaschic101
48,500 - 6475 = 42,025 -- taxable income 20% up to 37,400 = 0.20(37,400) = 7480 42,025 - 37,400 = 4624 40% of 4624 = .40(4624) = 1849.60 total taxes : 7480 + 1849.60 = 9329.60 (taxes she has to pay) she would then earn : I am not sure if you add in the 6475 un-taxable income... so I am not sure if the answer is 48,500 - 9329.60 or if it is 42,025 - 9329
anonymous
  • anonymous
I get it now!!! Thank you very much!!!! ^-^

Looking for something else?

Not the answer you are looking for? Search for more explanations.