SOLUTION: 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 $65,000 a year pay towards soc

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: 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 $65,000 a year pay towards soc      Log On


   



Question 1205598: 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 $65,000 a year pay towards social security out of their gross wages?
Answer by MathLover1(20850) About Me  (Show Source):
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Employees paid 4.2% or, as decimal, 0.042
if earning $65000 a year, employee will pay $65000%2A0.042=2730 a year towards social security
employers paid another 6.2%, or 0.062, employer paid another $65000%2A0.062=4030 a year towards social security for that employee