Answer:
f(150,000) shows that if you earn $150,000 than you need to pay $7,049.40 in social security tax.
The value of f(150,000) = $7,049.40
Step-by-step explanation:
Consider the provided information.
Let us consider you earn x amount
It is given that if x is upto $113,700 you need to pay social security tax rate was 6.2% of your income.
And if the value of x is more than $113,700, you paid a fixed amount of $7,049.40.
Now we need to determine the meaning of f(150,000).
150,000 shows that the value of x or you earn $150,000.
As we know $150,000 is more than $113,700 that mans you need to pay a fixed amount of $7,049.40
Hence, f(150,000) shows that if you earn $150,000 than you need to pay $7,049.40 in social security tax.
The value of f(150,000) = $7,049.40
