An Employee Earned $47,000 During the Year Working for an Employer.The

question 9

Multiple Choice

An employee earned $47,000 during the year working for an employer.The FICA tax for social security is 6.2%,and the FICA tax for Medicare is 1.45%.The employee's share of FICA taxes is:

• A)$681.50.
• B)$2,914.00.
• C)$3,595.50.
• D)$7,191.00.
• E)Zero,since the employee's pay exceeds the FICA limit.

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Definitions:

Cognitive Development

The study of how thinking, problem-solving, and knowledge understanding evolves from infancy to adulthood.

Subtract

To take one number away from another, resulting in the difference between the two values.

Cognitive Development

The study of how children and adults develop and evolve in terms of thinking, reasoning, and understanding.

Water

A transparent, odorless, tasteless liquid compound of hydrogen and oxygen, H2O, essential for most plant and animal life and used by all living things.