Question

Jonathan brought home a weekly paycheck with these deductions: Federal tax $45.40, FICA $28.76, State tax $9.52. How much in FICA is taken out annually?

• $832.55
• $1,495.52
• $247.52
• $2,360.80

Answer 1

1,495.52

Explanation:

Answer 2

$1495.52

Explanation:

If FICA is taken off per week and we want the annual amount, we need to determine the number of weeks in a year. We know that there is 365 days in a year and that a week is 7 days. To determine weeks in a year:

`=365/7=52.14=52`

There is 52 weeks in a year. To determine the annual FICA Amount:

`=52\cdot{28.76}=1495.52`

The answer is $1495.52 FICA annually