SOLUTION: Ron Smith has cumulative earnings of 77,800 dollars. This week he grossed 2,000 dollars. Assuming an FICA rate of Social Security 6.2 percent on 113,700 dollars and a Medicare ra

SOLUTION: Ron Smith has cumulative earnings of 77,800 dollars. This week he grossed 2,000 dollars. Assuming an FICA rate of Social Security 6.2 percent on 113,700 dollars and a Medicare ra

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Question 1041339: Ron Smith has cumulative earnings of 77,800 dollars. This week he grossed 2,000 dollars. Assuming an FICA rate of Social Security 6.2 percent on 113,700 dollars and a Medicare rate of 1.45 percent, what is the amount of Social Security and Medicare taken out of Ron�s earnings this week?
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
6.2+1.45=7.65
2000x.0765=$153 total deductions from Ron's earnings. ☺☺☺☺
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