## Related questions with answers

Question

Josh Logan is paid a monthly salary of $8,700. Find the exact Social Security taxes he paid for the month of March.

Solution

VerifiedStep 1

1 of 2$\$8,700 \times 6.2\%=\$8,700 \times 0.062 = \$539.40$

The Social Security tax is the product of the monthly wage and the Social Security tax rate of 6.2%.

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