Question

Larry earns $95,000 annually as an electrician. If he pays 14% in income taxes, how much money is he paying annually in income taxes?

Answer 1

Answer:$13,300

Step-by-step explanation:

To find out how much Larry is paying annually in income taxes, we can calculate 14% of his annual income and then subtract that amount from his total income.

Larry's annual income is $95,000.

His income tax rate is 14%.

First, let's find out how much he pays in income taxes annually:

Income tax

=

Annual income

×

Tax rate

Income tax=Annual income×Tax rate

So, Larry is paying $13,300 annually in income taxes.

Answer 2

Answer:

$13,300

Step-by-step explanation:

Income tax = (Income) * (Tax rate)

Income = $95,000

Tax rate = 14% = 0.14

income tax = $95,000 * 0.14

Income tax = $13,300