Question

Gary earned a gross pay of $1,047.30 last week. Using the fact that Social Security tax is 6.2% of gross pay, determine the amount of Social Security tax deducted from Gary’s gross pay. a. $6.49 b. $8.38 c. $64.93 d. $83.78

Answer 1

Answer:

(c) $64.93

Step-by-step explanation:

Gross Pay = $1047.30

Social Security Tax = 6.2%

Social Security Tax = 6.2% x  $1047.30

Social Security Tax = 0.062 x 1047.30 = $64.93

Answer: (c) $64.93