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Determine the Correct Calculation

question 15

Multiple Choice

Determine the correct calculation.


Definitions:

Social Security Tax Rate

The rate at which income is taxed to fund the Social Security program, typically shared between employees and employers.

Medicare Tax Rate

The percentage of an individual's wages that is withheld or paid toward Medicare, a U.S. government health insurance program.

Net Pay

The amount of an employee's income after all deductions like taxes, insurance, and retirement contributions have been subtracted.

Social Security

A government program that provides financial assistance to people with inadequate or no income, such as the elderly, disabled, and survivors.

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