Solve the Problem

question 106

Multiple Choice

Solve the problem. Refer to the table if necessary.
-Carla earned wages of $53,687, received $1731 in interest from a savings account, and contributed $ 2999 to a tax deferred retirement plan. She was entitled to a personal exemption of $3900 and had
Deductions totaling $7180. Find her gross income.

• A)$58,417
• B)$52,419
• C)$41,339
• D)$55,418

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Definitions:

Economists

Experts who study the production, distribution, and consumption of goods and services.

Interest Rate

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal.

Interest Rates

The cost of borrowing money or the return on invested capital, expressed as a percentage of the principal amount.

Investment

The procedure or operation of assigning financial assets with the intention of achieving a revenue or profit.