SOLUTION: For wages less than the maximum taxable wage base, Social Security contributions (including those for Medicare) by employees are 7.65% of the employee's wages.†
(a) Find an equati
Algebra ->
Linear-equations
-> SOLUTION: For wages less than the maximum taxable wage base, Social Security contributions (including those for Medicare) by employees are 7.65% of the employee's wages.†
(a) Find an equati
Log On
Question 780293: For wages less than the maximum taxable wage base, Social Security contributions (including those for Medicare) by employees are 7.65% of the employee's wages.†
(a) Find an equation that expresses the relationship between the wages earned (x) and the Social Security taxes paid (y) by an employee who earns less than the maximum taxable wage base.
(b) For each additional dollar that an employee earns, by how much is his or her Social Security contribution increased? (Assume that the employee's wages remain less than the maximum taxable wage base.)
$
(c) What Social Security contributions will an employee who earns $50,000 (which is less than the maximum taxable wage base) be required to make?
$ Answer by psbhowmick(878) (Show Source):
