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Earn +20 ptsQ: What does equivalent income mean?
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What does Personal Debt Ratio 99 percent mean?
It means that the person's debt is equivalent to 99 percent of their [annual] income.
What does capital income mean?
Capital income can be defined as the income that a person or business makes from the sale of their capital investment assets.
What is mean by professional income?
That might depend on the context, but presumably it refers to income you get from professional work.
Does equivalent mean equal?
To be equivalent means to be the same as a value or thing. So yes, it does mean equal.
What happens to the percentage of an income that is taxed when income rises and the tax is a proportional one?
The percentage of an income that is taxed will stay the same when income rises until that income reaches a certain point set by the government. A higher tax bracket may mean a higher portion of the income will be taxed.
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