Holly’s gross pay after two weeks of work is $1,475. Her income after taxes is $1,321.60. To the nearest tenth, find Holly’s income tax rate.(1 point) Responses 10.6% 10.6% 10.4% 10.4% 11.4% 11.4% 10%

Answer 1

To find Holly’s income tax rate, you need to calculate the amount of tax she paid and then determine that as a percentage of her gross pay.

1. Calculate the amount of taxes paid: \[ \text{Taxes paid} = \text{Gross pay} - \text{Net pay} \] \[ \text{Taxes paid} = 1475 - 1321.60 = 153.40 \]

2. Calculate the income tax rate: \[ \text{Income tax rate} = \left(\frac{\text{Taxes paid}}{\text{Gross pay}}\right) \times 100 \] \[ \text{Income tax rate} = \left(\frac{153.40}{1475}\right) \times 100 \approx 10.4% \]

Therefore, to the nearest tenth, Holly's income tax rate is 10.4%.