Michaela Jordan is a tax lawyer who earns $87,000 per year and is paid at the...
Michaela Jordan is a tax lawyer who earns $87,000 per year and is paid at the end of every month. What is the combined amount withheld from her September paycheck for Social Security (6.2%) and Medicare (1.45%)?
a $6,655.50 b $283.50 c $4,991.63 d $554.63
Homework Answers
ANSWER. D. $554.63
TOTAL AMOUNT WITHHELD IN SEPTEMBER = MONTHLY PAY * (SOCIAL SECURITY + MEDICARE)
= $87,000 / 12 * (6.2% + 1.45%)
= $554.63
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