George, a single taxpayer, earns $80,000 in taxable income and $6,000 in interest from an investment in city of Normal Bonds. Using the U. S. tax rate schedule for year 2019, what is his effective tax rate (round to two decimal places)?

Step-by-step explanation:

The effective tax rate is calculated as

82.5% of $80,000 = $66,000

$80,000 - $66,000 = $14,000

$14,000 × 24% = $3360

$3360 + $14089.50 = $17449

Therefore , effective tax rate is

$17,449.50 ÷ $86,000 = 20.29%.

the terms of a geometric sequence can be found by beginning with the first term and multiplying by the common ratio repeatedly. a recursive formula for a geometric sequence with common ratio r is given by an=ran−1 a n = r a n − 1 for n≥2 n ≥ 2 .

step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of