Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much will someone earning $20,000 a year pay towards social security out of their gross wages? Give your answer accurate to at least the nearest dollar. Question Help: D Video Message instructor Submit Question

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid
another 6.2%. How much will someone earning $20,000 a year pay towards social security out of their gross
wages?
%24
Give your answer accurate to at least the nearest dollar.
Question Help:
Video Message instructor
Submit Question
OME
MAR
Transcribed Image Text:Question 1 Employees in 2012 paid 4.2% of their gross wages towards social security (FICA tax), while employers paid another 6.2%. How much will someone earning $20,000 a year pay towards social security out of their gross wages? %24 Give your answer accurate to at least the nearest dollar. Question Help: Video Message instructor Submit Question OME MAR
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