Question: Please write code in python Create two functions: calculate_simple_rate and calculate_tax_rate Both functions have two parameters (age and income). Both will return a number representing
Please write code in python


Create two functions: calculate_simple_rate and calculate_tax_rate Both functions have two parameters (age and income). Both will return a number representing the tax rate based on the two parameters. You can assume the parameters will only be numbers (no need to worry about None) You ARE allowed to use the boolean operators not, and, or. calculate_simple_rate Finish the implementation for the function calculate_simple_rate anyone under 16 is taxed 5% (0.05) anyone 65 or over is taxed 2% everyone else is taxed based on income less than $10,000, tax rate is 10% $10,000 or more but less than $50,000, tax rate is 15% $50,000 or more but less than $100,000 tax rate is 20% $100,000 and over is taxed at 25% calculate_tax_rate Finish the implementation calculate_tax_rate which returns a number based on the following rules: anyone under 16 is taxed 5% anyone between the ages of 16 and 19 (inclusive) is taxed at 10% anyone making 100,000 or more is taxed an additional 3% regardless of age anyone over 19 is taxed based on income: less than 10,000: 15% between 10,000 and 20,000: 20% [inclusive) over 20,000: 25% So a 15 yr old making $120,000 would be taxed 8% (5% + 3%)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
