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brettlaw brettlaw
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Social Security and Medicare

The required deduction for Social Security is 6.2% OASDI (Old Age Survivors and Disability Insurance) of wages earned, to a maximum of $97,500 and 1.45% HI (Hospital Insurance, commonly known as "Medicare") for all earnings.


Refer to the Social Security and Medicare information. Michele Baker's cumulative wages for the year not including the current pay period total $98,500. Calculate the amount of Social Security and Medicare to be withheld from Baker's current gross pay of $3,500.
Textbook 
Contemporary Business Mathematics for Colleges

Contemporary Business Mathematics for Colleges


Edition: 16th
Authors:
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maneee1maneee1
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$50.75     (3,500 ´ 0.0145)
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brettlaw Author
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A week ago
Thanks
dianeflunder
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Smart ... Thanks!
oscar520000
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