An employee pays what percentage for FICA?
2 answers:
Answer:
7.65%.
Step-by-step explanation:
We are supposed to tell me percentage for FICA that an employee pays.
We know that Federal Insurance Contributions Act is comprised of the social security tax and medicare tax.
The social security tax is 6.2% and social security tax is 1.45%.
Therefore, an employee pays 7.65% percentage for FICA.
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Answer:
The total cost is $34.24.
Step-by-step explanation:
Given : Bob is looking to buy a new baseball cap with his favorite team’s logo on it. He finds one that normally sells for $32. If a 7% sales tax is added.
To find : What is the total cost?
Solution :
The sales price = $32
The tax rate = 7%=0.07
The sales tax is given by,
Now, adding to sales price
Total cost = 32+2.24
Total cost = $34.24
Therefore, the total cost is $34.24.