Lana Powell has cumulative earnings of $110,000 at the end of September. In the first week in October she earns $2,000. The amount deducted for Social Security and Medicare from her check is (assume Social Security rate of 6.2% on $110,100 and Medicare of 1.45%):

Question

16-07-2017
Mathematics

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Lana Powell has cumulative earnings of $110,000 at the end of September. In the first week in October she earns $2,000. The amount deducted for Social Security and Medicare from her check is (assume Social Security rate of 6.2% on $110,100 and Medicare of 1.45%):

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crisvinl65 crisvinl65 · Answer 1 · 2019-08-11T22:23:48+02:00

Answer:

Lana Powell has cumulative earnings of $110,000 at the end of September. In the first week in October she earns $2,000. The amount deducted for Social Security and Medicare from her check is (assume Social Security rate of 6.2% on $110,100 and Medicare of 1.45%):

Step-by-step explanation:

In the first week of October on the $ 2,000, we must deduct the two expenses, that of 6.2% and 1.45%, and then add them between them and subtract them from the $ 2000.

It would be the following: 2000 x 6.2% = $ 124; 2000 x 1.45% = 29; 124 + 29 = $ 153 is the amount to be deducted from the $ 2,000; $ 2000 - $ 153 = $ 1847.