13
QuizMultiple Choice

N/A — Exam

Question 13 • CMS 2026-2027 Economics and Personal Finance HONORS INITIAL CREDIT

Julia’s gross pay was 4 dollars comma 500 last year. The federal income tax withholding from her pay was 13 percent of her gross pay. Julia determined the federal income tax she owes is 495 dollars How much of a refund can Julia expect?

Answer
A
585 point 0 0 dollars
B
90 point 0 0 dollars
C
430 point 6 5 dollars
D
64 point 3 5 dollars

Explanation

Julia had $4,500 × 0.13 = $585 withheld from her pay. Subtract the $495 she owes in federal income tax: $585 − $495 = $90. She can expect a $90.00 refund, which is choice B.

AI-written and checked against the verified answer.

Previous
Next