Answer:
I will owe $4250 in federal taxes this year.
Explanation:
If we want to solve this exercise, we need to calculate the 10% of $42500.
To do this, we know that exist a direct linear relationship between the money and the percentage. This means that for a greater amount of money the percentage will be higher. We can write :
[tex]\frac{42500}{100}=\frac{x}{10}[/tex]
Where the denominators ''100'' and ''10'' are percentages.
Solving for x :
[tex]x=\frac{(42500).(10)}{100}=4250[/tex]
x = $4250
We find that 10% of $42500 is $4250.
I will owe $4250 in federal taxes (assuming that I have no deductions).
