Question

Marika Perez’s gross biweekly pay is $2,768. Her earnings to date for the year total $80,272. What amount is deducted from her pay for Social Security taxes if the rate is 6.2%? What amount is deducted for Medicare, which is taxed at 1.45%?

Answer 1

Answer:

The deduction for social Security tax is $4976.86 and the deduction for Medicare tax is $1163.94 .

Step-by-step explanation:

Marika Perez’s gross biweekly pay is $2,768. Her earnings to date for the year total $80,272.

What amount is deducted from her pay for Social Security taxes if the rate is 6.2%?

$0.062\times80272=4976.86$ dollars

What amount is deducted for Medicare, which is taxed at 1.45%?

$0.0145\times80272=1163.94$ dollars

Answer 2

Social Security  $4,976.86 and for Medicare  $1,163.94