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The federal income tax credit for dependent children doubled from $1,000 to $2,000 from 2017 to 2018. If the credit continued doubling each year, what would it be in 2020?

Respuesta :

kennethgraterop1n1sw
Since it says “Double” it means you’re multiplying by 2 each time. So the answer is 8,000.
(17-18) 1,000x2=2,000
(18-19) 2,000x2=4,000
(19-20) 4,000x2=8,000

The credit in 2020 should be $8,000.

Given that,

  • The federal income tax credit for dependent children doubled from $1,000 to $2,000 from 2017 to 2018.

Based on the above information, the calculation is as follows:

In 2017, it is $1,000

In 2018, it is $2,000 (double of $1,000)

In 2019, it is $4,000 (double of $2,000)

And, in 2020 it is $8,000 (double of $4,000)

Therefore we can conclude that the credit in 2020 should be $8,000.

Learn more: brainly.com/question/10002263

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