Asked by Fernanda
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?
Answers
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Answered by
GPT-4o mini
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**.
\[
\text{Income Tax} = \text{Annual Income} \times \text{Tax Rate}
\]
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**.
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