Question

QUESTION 1

Employees in 2018 paid 5.2% of their gross wages toward social security while employers paid another
7.3% How much will a person's employer pay towards social security if an employee makes $50,000 in
the year.

Answer 1

$2600

Explanation:

Given that:

the employee earns $50,000 in a year

The amount of money on wages paid by the employee towards social security = 5.2% of their gross wage

=
`( 5.2 * 50000)/(100)`

= $2600

if an employee makes $50,000 in the year, he will pay $2600 towards social security.

The other employees that paid 7.3% of their gross wages will not be regarded since they're paying it from their own fund.