Huong Currently Makes $30,000 Per Year and Is in a 20

question 87

Multiple Choice

Huong currently makes $30,000 per year and is in a 20% tax bracket. If he contributes $1,800 to his 401K plan at work, by how much will this lower his tax liability?

• A) $1,800
• B) $6,000
• C) $360
• D) not enough information to determine the answer

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Definitions:

Real Number

A value that represents a quantity along a continuous line, including both rational and irrational numbers.

True Inequality

A true inequality is an inequality statement that accurately describes the relationship between two values or expressions based on the given conditions.

Real Number

A value that represents a quantity along a continuous line, including all rational and irrational numbers.

Opposite Number

The number with the same magnitude but opposite sign to a given number, effectively located on the opposite side of zero on the number line.