Financial planning

If the exemption was worth $3100.00 and inflation was 4.7 % what would be the amount of the exemption for the upcoming tax year?

  1. 👍 0
  2. 👎 0
  3. 👁 95
  1. Amt. = 3100 + 0.047*3100 = $3245.70.

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    suppose a local symphony decides to raise money by raffling a microwave oven worth $400, a diner for two worth $80, and 2 books worth $20 each. a total of 2000 tickets are sold at $1 each. find the expected value of wining for a

    asked by mariely on May 19, 2009
  2. economics

    which of the following statements about inflation are true? check all that applies a) policy makers also worry about a negative inflation rate, or deflation b) painful government actions may sometimes be necessary to bring down a

    asked by will on September 23, 2012
  3. Accounting

    Prepare a schedule that lists the components of and calculates the personal and dependent exemption amount (based on current year exemption and dependency amount) that would be included on the Brock's individual tax return based

    asked by Jamie on October 16, 2011
  4. MACRO

    Suppose last year's inflation rate was 5%, but Wall Street analysts expect this year's interest rate to be 4%. Which of the following correctly describes people's beliefs according to rational or adaptive expectations theories?

    asked by Anastasia on May 11, 2013
  1. algebra

    A wholesaler mixed coffee beans worth $6/kg with another kind worth $8.80/kg. The 16kg mixture was worth $6.70/kg. How many kilograms of each type was used?

    asked by Joe on November 7, 2009
  2. accounting

    A company purchased $4,000 worth of merchandise. Transportation costs were an additional $350. The company later returned $250 worth of merchandise and paid the invoice within the 2% cash discount period. What is the total amount

    asked by ASH on April 10, 2011
  3. Finance

    Due to a recession, expected inflation this year is only 2.75%. However, the inflation rate in Year 2 and thereafter is expected to be constant at some level above 2.75%. Assume that expectations theory holds and the real

    asked by Rokera on December 15, 2014
  4. Social Studies

    Inflation primarily differs from deflation in that A. Inflation tracks changing prices but deflation does not. B. Inflation relates to rising rather than falling prices. ** C. Inflation happens only when the money supply is too

    asked by Dejavu on September 5, 2017
  1. Economics

    9. During the 1990's the inflation and unemployment trends in the United States changed. What was unusual in the 1990s? A. Unemployment reached very high levels but inflation fell to less than five percent B. although inflation

    asked by Codey on May 31, 2011
  2. algebra 2

    When inflation causes the price of an item to increase the new cost C and the original cost c are related by the formula C=c(1+r)^n, where r is the rate of inflation per year as a decimal and n is the number of years. What would

    asked by Taylor on March 31, 2010
  3. math

    3. (TCO A) The following questions are worth 5 points each. Please show all work. a. Inflation is expected to average five percent for the long term and Mr. Smith earned $74,000 this year, how much must he earn in 20 years just to

    asked by Steven on August 5, 2012
  4. algebra

    In a college, some courses contribute more towards an overall GPA than other courses. For example, a science class is worth 4 points; mathematics is worth 3 points; history is worth 2 points; and English is worth 3 points. The

    asked by john on October 18, 2010

You can view more similar questions or ask a new question.