Question

Frankie's annual salary is $41,000. She pays 1.45% of this amount in Medicare tax. How much is this?

Answer 1

Step 1: Problem

Frankie's annual salary is $41,000.

She pays 1.45% of this amount in Medicare tax.

How much is this?

Step 2: Concept

Amount paid for medicare tax = percentage of the annual salary.

Step 3: Method

`\begin{gathered} \text{Given data} \\ \text{Annual salary = \$41,000} \\ \text{Percentage pay for medicare tax = 1.45\%} \\ \text{Amount pay for medicare tax = 1.45\% of \$41000} \\ =\text{ }(1.45)/(100)\text{ }*\text{ 41000} \\ =\text{ }(59450)/(100) \\ =\text{ \$594.5} \end{gathered}`

Step 4: Final answer

Amount paid for medicare tax = $594.5