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

Explanation:

find: the amount of Social Security tax deducted from Gary’s gross pay

The amount of Social Security tax deducted from Gary’s gross pay = 6.2% of $1,047.30

or,       = (6.2 ÷ 100) ×  $1,047.30

or,        = 0.062 ×$1,047.30

or,        =  $ 64.93

Hence, the required amount of Social Security tax will be $ 64.93. So, the correct option will be (c) $ 64.93

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Answer 2

Answer:

C………… $64.93