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Fittoniya [83]
3 years ago
10

Marcus earned $54,000 last year when the Social Security tax was 6.2% of income up to $94,200. His Medicare tax was 1.45%. How m

uch did he pay in Social Security and Medicare taxes last year?
Mathematics
2 answers:
tester [92]3 years ago
8 0

Given =

Marcus earned $54,000 last year. social s ecurity tax was 6.2% and medicare tax was 1.45%

Find out  he pay in Social Security and Medicare taxes last year.

To proof

Marcus earned last year = $ 54000

Social Security tax = 6.2%

Medicare tax = 1.45%

First find out the  social security tax

6.2 % written in the simpler form = \frac{6.2}{100}

                                                       = 0.062

Social Security tax last year = .062×54000

                                              = $ 3348

find out Medicare taxes

1.45% Medicare tax written in the simpler form = \frac{1.45}{100}

                                                                             = 0.0145

Medicare taxes last year = 0.0145 × 54000

                                        = $743

Total tax  last year  = $743 + $3348

                                = $ 4131

Hence proved

                       

                         

AysviL [449]3 years ago
6 0

Answer

Social security tax amount = $3348

Medicare tax amount = $743

Step by step explanation

The amount earned by Marcus = $54000

Social security tax = 6.2% = 6.2/100 = 0.062

Social security tax amount = 54000*0.062

Social security tax amount = $3348

Medicare tax = 1.45% = 1.45/100 = 0.0145

Medicare tax amount = 54000*0.0145

Medicare tax amount = $743

Hope this will help you.

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