21
QuizMultiple Choice

Financial and Career Literacy Concepts — Test

Question 21 • Career Planning and Development

Mikkel pays a 4 percent state income tax on his earnings. If he earns 1 dollars comma 867 , how much state income tax can he expect to pay?

Answer
A
746 point 8 0 dollars
B
74 point 6 8 dollars
C
466 point 7 5 dollars
D
46 point 6 8 dollars

Explanation

Convert 4 percent to a decimal: 4% = 0.04. Multiply Mikkel’s earnings by the tax rate: $1,867 × 0.04 = $74.68. He can expect to pay $74.68 in state income tax, which is choice C.

AI-written and checked against the verified answer.

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