Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The total amount of money taken in by the federal government in 2 0 1 4 was about 3 . 5 7 trillion dollars. Among

The total amount of money taken in by the federal government in 2014 was about 3.57 trillion dollars. Among those earning 10 million dollars or more, the average amount of taxes paid was $7.88106. That's an awful lot of money. But what percentage is that of the government's revenue? Write in both decimal and scientific notation. Round your answer to seven decimal places for decimal notation, and one decimal place for scientific notation.
In decimal notation, the average amount of taxes paid is .0220448% of the total amount of money taken in.
In scientific notation, the average amount of taxes paid is 2.210-2% of the total amount of money taken in.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Financial Markets And Institutions

Authors: Frank J. Fabozzi, Franco Modigliani, Michael G. Ferri

2nd Edition

0136860567, 9780136860563

More Books

Students also viewed these Finance questions

Question

Compare the JDR Model with the DCSM and the ERI Model from Chapter

Answered: 1 week ago