Math Problem Statement

A typical income tax schedule is shown, where a single taxpayer owes $1700 plus 18% of the amount of their income over $13,000. Complete the table of values for the tax, T, on various incomes I: $15,000, $20,000, $22,000. Write a linear equation in point-slope form for the amount of tax T a person with an income I would pay if their income is over $13,000. Transform the equation to slope-intercept form.

Solution

Let's solve this income tax problem step by step based on the information provided in the image.

Given:

  • A taxpayer owes $1700 plus 18% of the amount of their income over $13,000.
  • You are asked to complete the table for the tax, TT, on various incomes, II.

Step 1: Determine how much income exceeds $13,000

The tax calculation is based on the amount of income over $13,000. For each income II, calculate the excess over $13,000.

For example, if income I=15,000I = 15,000: I13,000=15,00013,000=2,000I - 13,000 = 15,000 - 13,000 = 2,000

Step 2: Calculate the total tax, TT

The total tax is the base tax of $1700 plus 18% of the excess over $13,000.

T=1700+0.18×(I13,000)T = 1700 + 0.18 \times (I - 13,000)

Step 3: Fill in the table

For I=15,000I = 15,000:

T=1700+0.18×(15,00013,000)=1700+0.18×2,000=1700+360=2060T = 1700 + 0.18 \times (15,000 - 13,000) = 1700 + 0.18 \times 2,000 = 1700 + 360 = 2060

For I=20,000I = 20,000:

T=1700+0.18×(20,00013,000)=1700+0.18×7,000=1700+1,260=2960T = 1700 + 0.18 \times (20,000 - 13,000) = 1700 + 0.18 \times 7,000 = 1700 + 1,260 = 2960

For I=22,000I = 22,000:

T=1700+0.18×(22,00013,000)=1700+0.18×9,000=1700+1,620=3320T = 1700 + 0.18 \times (22,000 - 13,000) = 1700 + 0.18 \times 9,000 = 1700 + 1,620 = 3320

Thus, the completed table is:

IITT
15,00015,00020602060
20,00020,00029602960
22,00022,00033203320

Part b: Write a linear equation in point-slope form

We know that the tax TT is a linear function of income II. Using point-slope form TT1=m(II1)T - T_1 = m(I - I_1), where the slope mm is 0.18, and T1=1700T_1 = 1700 when I1=13,000I_1 = 13,000.

The linear equation is: T1700=0.18(I13,000)T - 1700 = 0.18(I - 13,000)

Part c: Convert to slope-intercept form

Solve for TT to convert the equation into slope-intercept form:

T=0.18I0.18×13,000+1700T = 0.18I - 0.18 \times 13,000 + 1700 T=0.18I2340+1700T = 0.18I - 2340 + 1700 T=0.18I640T = 0.18I - 640

So, the slope-intercept form of the equation is: T=0.18I640T = 0.18I - 640


Would you like further clarifications or more details? Here are 5 related questions:

  1. What is the significance of the slope 0.180.18 in the tax equation?
  2. How can we interpret the y-intercept 640-640 in the slope-intercept form?
  3. How would the equation change if the base tax increased from $1700 to $2000?
  4. How would the tax calculation change for incomes below $13,000?
  5. Can you find the income at which the tax becomes exactly $3,000?

Tip: Always ensure that point-slope and slope-intercept forms are consistent by plugging values to check accuracy!

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Math Problem Analysis

Mathematical Concepts

Linear Equations
Algebra

Formulas

T = 1700 + 0.18 * (I - 13,000)
Point-slope form: T - 1700 = 0.18 * (I - 13,000)
Slope-intercept form: T = 0.18 * I - 640

Theorems

Linear Equation Theory

Suitable Grade Level

Grades 8-10