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This equation is a linear equation. They form straight lines. In this case, the line goes through the origin of a cartesian plane. It can be rewritten as
y = 2/5x.
The graph looks like this:
y = 2/5x.
The graph looks like this:
Answer:
$3066
Step-by-step explanation:
We have been given that employees in 2012 paid 4.2% of their gross wages toward social security (FICA tax), while employers paid another 6.2%. We are asked to find the amount paid by an employee earning $73,000 per year toward social security.
To find the amount paid by an employee with annual gross earnings of $73,000, we need to find 4.2% of $73,000.
Therefore, the employee will pay $3066 toward social security out of their gross wages.