How do you understand the following, " income tax is $1,1450.00 + 3.5% of all income over $50,000"?

Question

How do you put that into a mathematical equation? Thanks.

here is the real question.


if the income is less than or equal to $20,000.00
income tax is 2% of the whole income
else if the income is less than or equal to $50,000.00
income tax is $400.00 + 2.5% of all income over $20,000
else
income tax is $1,1450.00 + 3.5% of all income over $50,000

Th

Answer 1

Well, if its a general statement to all taxpayers, then everyone pays x and if they earn more than $50k, they pay 3.5 percent on the amount above $50k.

You have a typo: $1,1450.00

Is it the typo that you are asking about?

My guess this statement is just for tax payers with income over $50k.

Answer 2

Come on, it's not that tough.

If your income is $51,000 then the tax is $1,145 plus 3.5% of all income over $50,000, which in this case is $1,000. That equals $35 so the total tax is $1,180.

Answer 3

I think you have an extra digit in your 1,1450 since that isn't a properly written number.

Answer 4

T= tax I = income

T = 1145 + .035(I - 50,000)

Answer 5

T = $11,450.00 + (.035 (I - $50,000))

T = Tax
I = Income

Answer 6

Yest, I understand it.