Question

Income Tax Suppose that $I\left(x\right)$represents the income of an individual in year $x$before taxes and $T\left(x\right)$represents the individual’s tax bill in year $x$. Determine a function $N$that

represents the individual’s net income (income after taxes) in year $x$.

Short answer

A function $N$that represents the individual’s net income (income after taxes) in year $x$is $N\left(x\right)=I\left(x\right)·T\left(x\right)$.

Step-by-step solution

Step 1. Given Information

Income Tax Suppose that $I\left(x\right)$represents the income of an individual in year $x$before taxes and $T\left(x\right)$represents the individual’s tax bill in year $x$. Determine a function $N$that

represents the individual’s net income (income after taxes) in year $x$.

Step 2. I(x) represents the income of an individual in year x before taxes.

$T\left(x\right)$represents the individual’s tax bill in year x.

A function $N$that represents the individual’s net income (income after taxes) in year $x$.

$N\left(x\right)=I\left(x\right)·T\left(x\right)$