Question

The Rodriguez family took 5.5 hours to gather information for their Schedule A. The itemized deductions saved them $4,095 in taxes. What was the mean savings per hour to fill out Schedule A tax form?

Answer 1

The mean saving was $744.54 per hour to fill out Schedule A tax form.

Explanation:

Given that:

Time taken by Rodriguez family = 5.5 hours

Amount saved in taxes = $4095

5.5 hours = $4095

The mean savings per hour can be calculated by dividing the total hours taken by the amount saved in taxes.

1 hour =
`(4095)/(5.5)\\`

1 hour = $744.54

Savings per hour = $744.54

Hence,

The mean saving was $744.54 per hour to fill out Schedule A tax form.