Your annual gross income is $68568. Your tax refund amount is $806, and your interest rate is 3.951%.

7. Assume that you are a single taxpayer and calculate the taxes you owed for 2019, using the tables

8. If you invest your refund in the account and leave it there for six years, what would your balance be?

9. What is the APY of the account in #8?

10. What is the exact doubling time of the account in #8?

If Taxable income Is Between: 0 - $9.700 $9,701 - $39,475 $39,476 - $84,200 $84,201 - $160,725 $160,726 - $204,100 $204,101 - $510,300 $510,301 + Federal 2019 Tax Tables Individual Taxpayers The Tax Due is: 10% of taxable income $970 + 12% of the amount over $9,700 $4,543 + 22% of the amount over $39,475 $14,382.50 + 24% of the amount over $84.200 $32,748.50 + 32% of the amount over $160,725 $46,628.50 + 35% of the amount over $204,100 $153,798.50 + 37% of the amount over $510,300 Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is Between: The Tax Due Is 0-$19,400 10% of taxable income $19,401 - $78,950 $1,940 + 12% of the amount over $19,400 $78,951 - $168,400 $9,086 + 22% of the amount over $78,950 $168,401 - $321,450 $28,765 + 24% of the amount over $168,400 $321,451 - $408,200 $65,497 + 32% of the amount over $321,450 5408,201 - $612,350 $93,257 + 35% of the amount over $408,200 $612,351 + $164,709.50 + 37% of the amount over $612,350 If Taxable income Is Between: 0 - $9.700 $9,701 - $39,475 $39,476 - $84,200 $84,201 - $160,725 $160,726 - $204,100 $204,101 - $510,300 $510,301 + Federal 2019 Tax Tables Individual Taxpayers The Tax Due is: 10% of taxable income $970 + 12% of the amount over $9,700 $4,543 + 22% of the amount over $39,475 $14,382.50 + 24% of the amount over $84.200 $32,748.50 + 32% of the amount over $160,725 $46,628.50 + 35% of the amount over $204,100 $153,798.50 + 37% of the amount over $510,300 Married Individuals Filing Joint Returns and Surviving Spouses If Taxable Income Is Between: The Tax Due Is 0-$19,400 10% of taxable income $19,401 - $78,950 $1,940 + 12% of the amount over $19,400 $78,951 - $168,400 $9,086 + 22% of the amount over $78,950 $168,401 - $321,450 $28,765 + 24% of the amount over $168,400 $321,451 - $408,200 $65,497 + 32% of the amount over $321,450 5408,201 - $612,350 $93,257 + 35% of the amount over $408,200 $612,351 + $164,709.50 + 37% of the amount over $612,350