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natta225 [31]
2 years ago
8

PLEASE ANSWER ASAP!!

Mathematics
1 answer:
ExtremeBDS [4]2 years ago
3 0

Answer:

<u>Fred paid US$ 310 to Social Security as a payroll tax</u>

<u>Fred paid US$ 72.50 to Medicare as a payroll tax</u>

<u>Fred paid 18% of his income to the Federal government as an income tax</u>

<u>Fred paid 5% of his income to the state government as an income tax</u>

Step-by-step explanation:

Fred's earnings in June were $ 5,000

A. Payment to Social Security

5,000 * 6.2% = 5,000 * 0.062 = 310

B. Payment to Medicare

5,000 * 1.45% = 5,000 * 0.0145 = 72.50

C. Federal Income Tax

900/5,000 = 0.18 = 18%

D. State Income Tax

250/5,000 = 0.05 = 5%

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