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Today at 9:36 PM
Mathematics

Answered

Personal Finance
The Social Security tax is 6.2% and the Medicare tax is 1.45% of your annual income. How
much would you pay per year to FICA if your annual earnings were $47,000?

Answer :

sqdancefan sqdancefan

Today at 9:41 PM

9514 1404 393

Answer:

$3,595.50

Step-by-step explanation:

FICA is the sum of Social Security and Medicare taxes.

7.65% × $47,000 = $3,595.50

On earnings of $47,000, you would pay $3,595.50 to FICA.

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