martha earned a gross pay of $1,215.60 last week. using the fact that social security tax is 6.2% of gross…

martha earned a gross pay of $1,215.60 last week. using the fact that social security tax is 6.2% of gross pay, determine the amount of social security tax deducted from marthas gross pay.\na. $7.54\nb. $65.37\nc. $75.37\nd. $75.40\nplease select the best answer from the choices provided

martha earned a gross pay of $1,215.60 last week. using the fact that social security tax is 6.2% of gross pay, determine the amount of social security tax deducted from marthas gross pay.\na. $7.54\nb. $65.37\nc. $75.37\nd. $75.40\nplease select the best answer from the choices provided

Answer

Explanation:

Step1: Convert percentage to decimal

To find 6.2% of a number, we convert 6.2% to a decimal. $6.2%=\frac{6.2}{100}=0.062$.

Step2: Calculate the tax amount

Multiply the gross - pay by the decimal form of the percentage. The gross pay is $1215.60$. So the tax amount is $1215.60\times0.062 = 75.3672\approx75.37$.

Answer:

C. $75.37$