Question

Below is a graph of the Murphys' annual expenses. If the Murphys' gross annual household income is $85,420, how much will they pay in federal taxes?
a. $3,559.17
b. $8,542.00
c. $20,500.80
d. $29,897.00​

Answer 1

$\text{Hello there!}\\\\\text{We know that Murphy makes \ 85,420}\\\\\text{However, we need to find how much he needs to pay in federal taxes}\\\\\text{Looking at the chart, you'll see that federal taxes is 24\%}\\\\\text{This means we have to multiply 85,420 by .24 to see how much he needs}\\\text{to pay}\\\\85420*.24=20500.8\\\\\boxed{\text{Answer: C). \ 20500.8}}$

Answer 2

The amount paid as Federal tax by the Murphys' is  $20,500.80.

What is a pie chart?

A pie chart is a kind of graph that is plotted in circular form. It is often used to present information succinctly and for easy digestion by the target audience.

In order to obtain the amount of  money that the  Murphys' pay as federal tax;

• Total or gross income of the  Murphys' = $85,420
• Percentage paid as federal tax = 24%

Hence;

Amount paid as federal tax = 24/100 ×  $85,420 =  $20,500.80

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