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nydimaria [60]
3 years ago
5

In 2018, Yolanda paid $4,526 in Social Security tax. If the Social Security tax rate was 6.2% to the maximum income of $128,400

that year, what was Yolanda’s taxable income?
Mathematics
1 answer:
lana [24]3 years ago
7 0

Answer:

$73000

Step-by-step explanation:

Given: Social security tax paid by Yolanda is $4562.

         6.2% tax to be paid on earning to the maximum income of $128400.

Lets assume Yolanda´s income be `x`.

Now, calculating the taxable income of Yolanda

∴ 62\% \times x= \$ 4526

⇒ \frac{62}{100} \times x= 4526

Cross multiplying both side

⇒ x= \frac{4526\times 100}{6.2}

∴x= $73000

∴ Yolanda´s taxable income is $73000.

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