If the Social Security tax is 6.13 percent of the gross income, what is the tax for $1,783.00? A. $10.83 B. $109.30 C. $1,083.98 D. None of these.
Question
Solution 1
To calculate the Social Security tax, you need to multiply the gross income by the tax rate.
Here's how you do it:
- Convert the tax rate from a percentage to a decimal. 6.13% becomes 0.0613.
- Multiply the gross income by the tax rate.
So, $1,783.00 * 0.0613 = $109.30
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Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
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