Robbie Is 18, and a Dependent on His Parent's Return

question 84

Multiple Choice

Robbie is 18, and a dependent on his parent's return. His income consists of interest of $1,300, and $2,500 from being a lifeguard. What is Robbie's 2018 tax liability?

• A)$-0-
• B)$95
• C)$130
• D)$250
• E)$295

Identify and apply factoring techniques to trinomials.

Factor expressions using common factoring techniques, including grouping and square of a binomial.

Determine whether a polynomial can be factored and identify prime polynomials.

Use factoring to solve real-world problems and construct mathematical models.

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Definitions:

Compounded Monthly

A compound interest calculation method where interest is added to the principal balance each month.

RRSP

Registered Retirement Savings Plan, a Canadian financial vehicle for individuals to save for retirement on a tax-sheltered basis.

Nominal Rate

The advertised or stated interest rate on a loan or investment, not accounting for any fees or compounding of interest.

Effective Rate

The real interest rate on an investment or loan, taking into account the effect of compounding over a given period.