75.6k views
3 votes
If you monthly salary is 8500 and 34.2% is withheld for taxes and social security. How much money will be withheld each month?

1 Answer

3 votes

Okay, here we have this;

Considering the provided information and values, we are going to calculate the requested amount, so we obtain the following:

Then we will solve using the following formula:

Monthly salary withholding = Monthly salary * Percentage of salary withholding

Replacing:

Monthly salary withholding = 8500 * 34.2%

Monthly salary withholding = 2907

Finally we obtain that each month will be withheld $2907 for taxes and social security.

User Stephen Taylor
by
6.4k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.