Question

harry potter , a heating technician , has a gross weekly income of $502.16. his earnings to date for this year are $20,086.40. how much is deducted from his paycheck this week for social security? how much for medicare?

Answer 1

Harry Potter's weekly paycheck deduction for Social Security is $31.13 and for Medicare is $7.28, calculated using the rates of 6.2% and 1.45% respectively from his gross weekly income of $502.16.

Step-by-step explanation:

Harry Potter, a heating technician, needs to calculate the deductions for Social Security and Medicare from his weekly gross income of $502.16. To calculate the Social Security deduction, we use the standard deduction rate of 6.2%. To find the actual amount deducted:

• Calculate 6.2% of $502.16: (6.2 / 100) * $502.16 = $31.134

The Medicare deduction is calculated at a rate of 1.45%. To find the amount deducted for Medicare:

• Calculate 1.45% of $502.16: (1.45 / 100) * $502.16 = $7.281

The weekly deduction for Social Security is $31.13 and for Medicare is $7.28.