Bang Nguyen Recently Graduated from College and Started Working in a Good

question 8

Multiple Choice

Bang Nguyen recently graduated from college and started working in a good job. He has a little money invested in a stock that pays no dividends. He lives in an apartment, is single, and has no dependents. He has a $22,000 student loan balance and he paid $600 interest in 2011. He is considering going back to school part-time for some additional computer classes. He does not have a personal IRA and he contributed 2% of his $38,750 salary to his 401K plan at work for 2011. He is just completing his tax return for 2011. Based on the information below, answer the following questions.

-Bang's average tax rate for 2011 is closest to which of the following?

• A) 10%
• B) 15%
• C) 12.5%
• D) 25%

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Definitions:

Zygote

The initial cell formed when a sperm cell fertilizes an egg cell, marking the beginning of human development.

Female Ovum

A female reproductive cell or gamete, which, when fertilized by a male sperm, can develop into a zygote.

Zygote

The initial cell formed when a new organism is produced by the union of sperm and egg cells, representing the earliest stage of development.

Uterine Wall

The muscular and membranous layer surrounding the uterus that thickens during the menstrual cycle to prepare for possible implantation.