Holly’s gross pay after two weeks of work is $1,475. Her income after taxes is $1,321.60. To the nearest tenth, find Holly’s income tax rate.(1 point)
wrong
I apologize for the incorrect response.
To find Holly's income tax rate, we need to subtract her income after taxes from her gross pay to determine the amount of taxes she paid. Then, we can divide the amount of taxes by her gross pay and multiply the result by 100 to obtain the tax rate.
Taxes paid = Gross pay - Income after taxes
= 1475 - 1321.60
= 153.40
Holly's income tax rate = (Taxes paid / Gross pay) * 100
= (153.40 / 1475) * 100
≈ 10.4
Therefore, Holly's income tax rate is approximately 10.4%.
To find Holly's income tax rate, we need to calculate the percentage of her income that is being taxed. We can do this by dividing her income tax ($1,321.60) by her gross pay ($1,475) and then multiplying the result by 100 to get the percentage.
Let's do the calculation step by step:
1. Divide the income tax by the gross pay: $1,321.60 / $1,475 = 0.8952.
2. Multiply the result by 100 to convert it to a percentage: 0.8952 * 100 = 89.52.
So, Holly's income tax rate is approximately 89.5% to the nearest tenth.
To find Holly's income tax rate, we divide her income after taxes by her gross pay and multiply the result by 100.
Holly's income tax rate = (Income after taxes / Gross pay) * 100
= (1321.60 / 1475) * 100
≈ 89.57
Therefore, Holly's income tax rate is approximately 89.6%.