An electric device delivers a current of [tex]$15.0 A$[/tex] for 30 seconds. How many electrons flow through it?
Answer (2)
A device delivering a current of 15.0 A for 30 seconds results in a total charge of 450 C . This charge corresponds to approximately 2.81 × 1 0 21 electrons flowing through the device.
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Calculate the tax paid in the first bracket: 10275 × 0.10 = 1027.5 .
Calculate the tax paid in the second bracket: ( 23470 − 10275 ) × 0.12 = 1583.4 .
Calculate the total tax paid: 1027.5 + 1583.4 = 2610.9 .
Calculate the effective tax rate and round to the nearest hundredth: 23470 2610.9 × 100 ≈ 11.12% . The final answer is 11.12% .
Explanation
Problem Analysis We are given a taxable income of $23,470 and a marginal tax rate chart. Our goal is to determine the effective tax rate, rounded to the nearest hundredth of a percent.
Calculating Tax in Each Bracket First, we need to determine how much of the income falls into each tax bracket.
The first tax bracket is from $0 to $10,275, with a tax rate of 10%. Since the taxable income is $23,470, the entire first bracket is taxed at 10%. The tax paid in this bracket is: 10275 × 0.10 = 1027.5
The second tax bracket is from $10,276 to $41,175, with a tax rate of 12%. The income that falls into this bracket is the difference between the taxable income and the lower limit of this bracket: 23470 − 10275 = 13195 The tax paid in this bracket is: 13195 × 0.12 = 1583.4
Calculating Total Tax Paid Now, we calculate the total tax paid by summing the tax paid in each bracket: 1027.5 + 1583.4 = 2610.9
Calculating Effective Tax Rate Next, we calculate the effective tax rate by dividing the total tax paid by the taxable income: 23470 2610.9 ≈ 0.111244
Rounding to Nearest Hundredth Finally, we express the effective tax rate as a percentage and round to the nearest hundredth: 0.111244 × 100 = 11.1244 ≈ 11.12%
Examples
Understanding effective tax rates is crucial for financial planning. For instance, if you're considering a new job with a higher salary, knowing the effective tax rate helps you accurately estimate your take-home pay. This calculation allows you to make informed decisions about your budget, investments, and overall financial health. By understanding how different income levels are taxed, you can better plan for your financial future and make strategic decisions about your earnings and expenses.
