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AssignmentMultiple Choice

Budgeting and Being a Smart Consumer

Question 1 • Personal Finance - EL3403

Martin’s gross pay is $30,135 per year. His federal income tax percent that is withheld from his paycheck is 15%. The amount of money that he owes the government after federal deductions is $4,150. Which of the following is true?

Answer
A
Martin owes about $4,520 in federal taxes.
B
Martin owes about $370 in federal taxes.
C
Martin will get a refund of about $3,899.
D
Martin will get a refund of about $370.
Martin’s gross pay is $30,135 per year. His…