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 $34,000 a year pay towards social security out of their gross wages? $ Give your answer accurate to at least the nearest dollar.

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 $34,000 a year pay towards social security out of their gross wages? $ Give your answer accurate to at least the nearest dollar.

Algebra: Structure And Method, Book 1

(REV)00th Edition

ISBN:9780395977224

Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole

Chapter1: Introduction To Algebra

Section1.9: Opposites And Absolute Values

Problem 10MRE

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Question

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 $34,000 a year pay towards social security out of their gross wages?

$

Give your answer accurate to at least the nearest dollar.

Expert Solution