$$\begin{array} { c c }
\text { Taxable Income } & \text { Taxes Paid } \
\$ 20,000 & \$ 0 \
40,000 & 2,000 \
60,000 & 4,000 \
80,000 & 8,500
\end{array}$$
-If your taxable income is $30,000,how much tax would you owe?

Question

$$\begin{array} { c c } 
\text { Taxable Income } & \text { Taxes Paid } \
\$ 20,000 & \$ 0 \
40,000 & 2,000 \
60,000 & 4,000 \
80,000 & 8,500
\end{array}$$
-If your taxable income is $30,000,how much tax would you owe?

Quizplus · Accepted Answer

The tax structure appears to be progressive, with the amount of taxes paid increasing as taxable income increases. Given the data, the tax owed on a $30,000 income would be interpolated between the taxes paid on $20,000 (which is $0) and $40,000 (which is $2,000). Since $30,000 is halfway between $20,000 and $40,000, the tax owed would be halfway between $0 and $2,000, which is $1,000.

-If Your Taxable Income Is $30,000,how Much Tax Would You