Question

Gary earned a gross pay of $1,047.30 last week. Using the fact that Social Security tax is 6.2% of gross pay, determine the amount of Social Security tax deducted from Gary’s gross pay.

Answer 1

The amount of Social Security tax deducted from Gary’s gross pay is $64.93.

Explanation:

Given : Gary earned a gross pay of $1,047.30 and Social Security tax is 6.2% of gross pay.

We have to determine the amount of Social Security tax deducted from Gary’s gross pay

Since, Gary's gross pay is $1,047.30

and Social Security tax is 6.2% of the gross pay.

So the amount of Social Security tax deducted from Gary’s gross pay is 6.2% of $1,047.30

that is
`(6.2)/(100)*  1,047.30`

Solving we get,

`(6.2)/(100)*  1,047.30=64.9326`

Thus, the amount of Social Security tax deducted from Gary’s gross pay is $64.93

Answer 2

Answer:$64.93 Explanation: The amount of Social Security tax deducted from Gary's gross pay is approximately $64.93.You get this by multiplying $1,047.30 by decimal equivalent of 6.2%(6.2/100=0.062). 0.062*1047.30=64.93