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I NEED HELP PLS! In a year when the maximum income for Social Security was $118,500 and was at 6.2%, Bart worked at two jobs. In one job he earned $99,112. In his second job, he earned $56,222. How much did he pay in Social Security?

Sagot :

onyebuchinnaji

The amount Bart paid in social security is $9,630.71

The given parameters;

  • maximum income for $118,500
  • percentage payable for social security, 6.2%
  • first amount earned, = $99,112
  • second amount earned, = $56,222

Each of the amount earned is within the range of 6.2%, since each is less than $118,500

The amount Bart paid in social security is calculated as follows;

[tex]amount \ paid \ = 0.062\times 99,112 \ + \ 0.062 \times 56,222\\\\amount \ paid \ = \$ 9,630.71[/tex]

Thus, the amount Bart paid in social security is $9,630.71

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