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)

Question

Responses

10%
10%

10.4%
10.4%

11.4%
11.4%

10.6%

Answer 1

To find Holly's income tax rate, we need to calculate the amount of taxes paid and then divide by her gross pay.

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

2. Calculate the income tax rate: \[ \text{Income Tax Rate} = \frac{\text{Taxes Paid}}{\text{Gross Pay}} \times 100 = \frac{153.40}{1475} \times 100 \]

3. Calculate: \[ \frac{153.40}{1475} \approx 0.10398 \quad \text{(approximately)} \] \[ 0.10398 \times 100 \approx 10.398 \quad \text{(approximately)} \]

4. To the nearest tenth: This rounds to 10.4%.

Therefore, Holly's income tax rate is 10.4%.