Question

Marika Perez’s gross biweekly pay is $2,768. Her earnings to date for the year total $80,272. What amount is deducted from her pay for Social Security taxes if the rate is 6.2%? What amount is deducted for Medicare, which is taxed at 1.45%?

Answer 1

$ 1163.944

Explanation:

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Answer 2

Deduction for social Security tax is $ 4976.864 and deduction for Medicare tax is $ 1163.944 .

Explanation:

As given

Marika Perez’s gross biweekly pay is $2,768.

Her earnings to date for the year total $80,272.

Social Security taxes if the rate is 6.2% .

6.2% is written in the decimal form

`= (6.2)/(100)`

= 0.062

Social Security taxes = 0.062 × Gross pay

= 0.062 × 80272

= $ 4976.864

As given

Amount is deducted for Medicare is 1.45% .

1.45% is written in the form of decimal

`= (1.45)/(100)`

= 0.0145

Medicare tax = 0.0145 × Gross pay

= 0.0145 × 80272

= $ 1163.944

Therefore the deduction for social Security tax is $ 4976.864 and deduction for Medicare tax is $ 1163.944 .