All categories

3 years ago

Determine the total annual fica tax for an annual salary of $38,480.

2 answers:

6 0

The annual FICA (Federal Insurance Contributions Act) tax is composed of two parts: Social Security and Medicare Taxes. On the employee's side, he/she has to shoulder 6.2% of the annual salary for the Social Security Tax, and 1.45% of the annual salary for the Medicare Tax. So in total, FICA takes 7.65% of your annual salary as tax. To calculate the FICA tax to be paid, this is shown below:

$38,480 x 7.65% = $2943.72

Therefore, for an annual salary of $38,480, $2943.72 goes into FICA tax payment.

Phoenix [80]3 years ago

3 0

Answer:

Step-by-step explanation:

You might be interested in

A particular car gets fuel mileage of 48 mpg in the city and 12% more on the highway. What is the cars fuel mileage on the highw

stealth61 [152]

I believe your answer would be 56.2mpg more on the highway.

5 0

3 years ago

Read 2 more answers

Rhianna is buying a car for $14,390. She has a $1000 trade-in allowance and will make a $1500 down payment. She will finance the

antoniya [11.8K]

Answer:

(a)

Original price for the Car Rhianna buy = $14,390.

Trade in allowance she has =$1000

So, the reduced price= $14,390-$1,000=$13,390.

Now, she make a $1500 down payment initially, so the remaining amount she pay using Auto-Loan is, $13,390-$1500=$11,890

Therefore, $11,890 money will she borrow in an auto loan.

(b)

To find the monthly(M) auto payment be:

Since the monthly auto payment in 4 year with 2.6% APR(Annual percentage rate)

Now, Monthly Auto payment(M) be :

P=$11,890, Monthly Car payment per $1000 borrowed at 2.6% for 48 months = $21.958

∴ $M=$11,890\cdot \frac{21.958}{1000}$

On solving we get, M=$261.082

Therefore, $261.082 will be her monthly auto payment.

(c)

Total amount of interest(A) she will pay ,

A=total payment in 4 years-total loan amount= $(\$261.082\cdot 48)-11,890$

=$12,531.936-$11,890=$641.936

So, the total amount of interest she will pay is, $641.936

(d)

Rhianna total payment for the car = total payment in 4 years+Down payment= $(261.082\cdot 48)+$1500$ =$12531.936+$1500=$14,031.936

(e)

∵ Rhianna is 22 years female :

From the given Data in the picture:

Rating factor= 1.2

Liability insurance 50/100/25 , Bodily injury 50/100

Premium= $310 and Property damage 25 : Premium $175

Collision insurance=$500 deductible: Premium $148

Comprehensive insurance= $500 deductible : Premium $85

Her total annual premium $= 1.2\cdot (\$310+\$175+\$148+\$85) = \$861.60$

8 0

3 years ago

Evaluate the logarithm.

eimsori [14]

Answer:

$x \approx 0.954$

Step-by-step explanation:

The logarithm is evaluated as follows:

$x = 2\cdot \log 3$

$x = \log 3^{2}$

$x = \log 9$

The value of the logarithm can be estimated by means numeric methods, which can be easily used on calculators (i.e. Macaulay Series)

$x \approx 0.954$

8 0

3 years ago

Let X represent the SAT score of an entering freshman at University X. The random variable X is shown to have a N(1200, 90) dist

Lelechka [254]

The correct answer to this question is 0.1456. This is the probability that X bar will be greater than Y bar. Probability is the measure of how likely an event is. The formula is the ratio of the number of favorable outcomes to the total number of possible outcomes. Thank you for posting your question. I hope that this answer helped you. Let me know if you need more help.

4 0

4 years ago

4x-2y=12 -4x-9=54 How can you order a ladder?

blagie [28]

Equations:

4x - 2y = 12
-4x - 9y = 54

Multiple them in both sides

4x - 2y - 4x - 9y = 12 + 54
-2y - 9y = 66
-11y = 66
y= -6

If y= -6 then put y in first or second equation.

I put it in first equation

4x - 2.(-6) = 12
4x + 12 = 12
x= 0

Therefore

(x,y) = (0, -6)

3 0

3 years ago