The 1996 tax brackets for a single person are given in the following table.
Taxable Income 1 Tax T
1. 0 – 24,000 15% (I)
2. 24,000 – 58,150 28% (I – 24,000) +
3600
3. 58,150 – 121,300 31% (I – 58,150) +
13,162
4. 121,300 – 263,750 36% (I – 121,300) +
32,738.50
5. over 263,750 39.6% (I – 263,750) +
84,020.50
Source: 1040 Forms and Instructions, IRS, 1996
Write the income range for line 5 as an inequality. Write the inequality that represents the
tax owed.
Provide an appropriate response.
A person deposits $50 in a bank and in two years it increases to $56.18. If the bank
compounds interest annually, what annual rate of interest does it pay?
Express the problem using absolute value notation.
The absolute value of the difference of two numbers is equal to the absolute value of the
difference of the two numbers in reverse order.
Provide an appropriate response.
The relationship between Fahrenheit and Celsius temperature is given by the formula
F– 32
180 =C
100. Normal body temperature is F 98.6. Find the corresponding Celsius
temperature.
A company manufactures hair dryers. The manufacturing cost is $9 per unit with a fixed
cost of $16,000. A hair dryer sells for $15. If the company wants to earn a profit of $50,000,
how many dryers must be sold?
A kitchen cabinet maker wants to establish a list price for a standard cabinet so that the
selling price gives a trade discount of 10% of the list price. If he makes a markup of 20% of
the selling price, and his cost is $144, what list price should he charge?