Question

Your company withheld $4,463 from your paycheck for taxes. You received a $713 tax refund. Round to the nearest 100 to estimate how much you paid in taxes.

Answer 1

Amount withheld = 4463; rounding it to nearest 100 = 4500

Refund Received = 713; rounding it to nearest 100 = 700

Approximate amount paid in taxes = 4500 - 700 = $3800

Hence, estimated amount paid in taxes = $3800