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- What is the total effect on the economy of a government tax rebate of $1,000 to each household in order to stimulate the economy if each household will spend 90% of the rebate in goods and services?arrow_forwardDuring his short stint as Shadow Finance Minister, Barnaby Joyce displayed a curious grasp of numbers. One of his most infamous exclamations was “All this billions, quillions, Brazilians.” Less well known was his tax-reform proposal, recommending that if you earn $x per day, you are taxed x% of that amount (with the understanding that you pay 100% tax if you earn $100 or more per day. Under Senator Barnaby’s plan, which amount x gives you the highest earnings after tax has been taken out?arrow_forwardSuppose $1,000 is divided into two bank accounts. One account pays 1% simple interest per year and the other pays 2.5%. After three years there is a total of $55 in interest between the two accounts. How much was invested into the bank account that pays 2.5% simple interest (rounded to the nearest cent)? O $444.44 O $555.56 O $333.33 O $451.55arrow_forward
- For a recent year, the federal income tax owed by a taxpayer (single-no dependents) was based on the individual's taxable income. (Source: Internal Revenue Service, www.irs.gov) If your taxable income is but not over– The tax is of the amount over- over– $0 $8925 $0 + 10% $O $8925 $36,250 $892.50 + 15% $8925 $36,250 $87,850 $4991.25 + 25% $36,250 Write a piecewise-defined function that expresses an individual's federal income tax f(x) (in S) as a function of the individual's taxable income x (in S).arrow_forwardSuppose you go to a company that pays $0.04 for the first day, $0.08 for the second day, $0.16 for the third day, and so on.arrow_forwardSuppose $6,500 is divided into two bank accounts. One account pays 10% simple interest per year and the other pays 4.6%. After two years there is a total of $1000 in interest between the two accounts. How much was invested into the bank account that pays 10% simple interest (rounded to the nearest cent)? O $4,441.44 O $3,722.22 O $2,777.78 O $3,233.33 83 e here to search 2/23, F8 F10 Prt Sc Insert Del PX Backspace 7 8 Aarrow_forward
- Suppose $50,000 is divided into two bank accounts. One account pays 4% simple interest per year and the other pays 6.4%. After five years there is a total of $12,000 in interest between the two accounts. How much was invested into the bank account that pays 6.4% simple interest (rounded to the nearest cent)? O $16,666.67 O $33,333.33 O $45,511.55 O $55,555.56 MacBookarrow_forwardYou go to work at a company that pays $0.01 for the first day, $0.02 for the second day, $0.04 for the third day, and so on. If the daily wage keeps doubling, what would your total income be for working (a) 29 days, (b) 30 days, and (c) 31 days?arrow_forwardIf Ms. Smith receives an income of 26,247 per year, how much does she receive each weekarrow_forward
- Suppose $67,050 is divided into two bank accounts. One account pays 6% simple interest per year and the other pays 1%. After seven years there is a total of $15,000 in interest between the two accounts. How much was invested into the bank account that pays 1% simple interest (rounded to the nearest cent)? O $44,451.55 O $55,455.56 O $37,602.90 O $29,447.10 MacBook A DII F10 F9 F8 80 F7 F6 F5 F4 F3 F2 & $4 4 5 6. 7 2 3 00arrow_forwardSuppose you go to a company that pays $0.04 for the first day, $0.08 for the second day, $0.16 for the third day, and so on. If the daily wage keeps doubling, what will your total income be for working 30 days? Total Income = $arrow_forwardIf Ms. Smith receives an income of $26,247 per year, how much does she receive each month?arrow_forward
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