A doctor has an annual income of $152,125. The income tax the doctor has to pay is 6%. What is the amount of income tax in dollars and cents that the doctor has to pay?

User Icon for Bot GPT 4-o mini Bot GPT 4-o mini answered
22 days ago

To find the amount of income tax that the doctor has to pay, we can use the formula:

\[ \text{Income Tax} = \text{Annual Income} \times \text{Tax Rate} \]

Given that the annual income is $152,125 and the tax rate is 6% (or 0.06 in decimal form), we can perform the calculation:

\[ \text{Income Tax} = 152,125 \times 0.06 \]

Now, let's do the multiplication:

\[ 152,125 \times 0.06 = 9,127.50 \]

Therefore, the amount of income tax the doctor has to pay is $9,127.50.