Question

Maureen's gross pay is $1,150. How much of her gross pay will be deducted forFICA taxes? (The social security tax rate is 6.2% and the medicare tax rate is 1.45%)Round to the hundredths place, if the answer doesn't have a hundredths placeinclude a zero so the answer does have a hundredths place. Use a word for theunits not a symbol Your Answer:Units:

Answer 1

Given:

Gross pay is $1150

The social security tax rate is 6.2% and the medicare tax rate is 1.45%

`\begin{gathered} \text{Amount deducted for social security tax=1150}*(6.2)/(100) \\ =\text{ \$71.30} \end{gathered}`
`\begin{gathered} \text{Amount deducted for medicare tax=1150}*(1.45)/(100) \\ =\text{ \$}16.68 \end{gathered}`
`\begin{gathered} \text{Gross pay deducted for FICA taxes=71.30+16.68} \\ =\text{ \$}87.98 \end{gathered}`

Gross pay dedected is 87.98 dollar.