Question: C++ English You need to write a program to calculate and display the amount of taxes paid. The program needs to ask the user to
You need to write a program to calculate and display the amount of taxes paid. The program needs to ask the user to enter his/her income. If the user earns $30,000 or less, there is no tax. For incomes between $30,000 and $60,000, the tax rate is 5%. For incomes greater than $60,000, the rate is 7%. Remember, each tax rate applies only to the money earned in its respective range. For instance, for a salary of $50,000, the first $30,000 is not taxed, and the final $20,000 is taxed at 5%. Tax = 30000*0.0 + (50000-30000)* 0.05 As an additional example, for a salary of $80,000, the first $30,000 is not taxed, the next $30,000 is taxed at 5%, and the final $20,000 is taxed at 7%. Tax = 30000*0.0 + 30000*0.05 + (80000-30000- 30000)*0.07
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
