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On Monday morning you sell one June T-bond futures contract at 97: 27 or for $97 843.75. The contract's face value is $100 000. The initial margin requirement is $2 700 and the maintenance margin requirement is $2 000 per contract. Use the following price data to answer the question. Your cumulative rate of return on your investment after Wednesday is a/an ________.
FICA Taxes Payable
Taxes owed by an employer, employee, or both, to the Federal Insurance Contributions Act for Social Security and Medicare.
Employer's Payroll Taxes
Taxes that an employer must pay based on the wages and salaries of its employees, which can include Social Security taxes, Medicare taxes, and unemployment taxes.
Medicare Tax Rate
The percentage of an individual's earnings that is deducted to fund the Medicare program, as specified by federal law.
Social Security Tax
A tax that funds the Social Security program, collected from both employers and employees to provide retirement, disability, and survivor benefits.
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