Problempat earns a gross salary of 210000 each week assume, Ask an Expert

Finance

Problem:

Pat earns a gross salary of $2,100.00 each week. Assume a rate of 6.2% on $110,100 for Social Security and 1.45% for Medicare.

Required:

Question: What are Pat's first week's deductions for

Social Security
Medicare
Will any of Pat's annual wages be exempt from
Social Security
Medicare

Note: Solve the problem and show all work.

View complete question

Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91174280

Have any Question?Write your Review or question?

Related Questions in Basic Finance

Critical thinking assignment -choose one of the following

Critical Thinking Assignment - Choose one of the following two assignments to complete this week. Do not do both assignments. Identify your assignment choice in the title of your submission. Option 1: Delta and Risk-Neut ...

Banking and finance research project -this project will

Banking and Finance Research Project - This project will further your understanding of how financial markets function. The assignment consists of two parts. Part A of the assignment focuses on the financial instruments o ...

Canadian-based mining company el dorado gold ego suspended

Canadian-based mining company El Dorado Gold (EGO) suspended its dividend in March 2016 as a result of declining gold prices and delays in obtaining permits for its mines in Greece. Suppose you expect EGO to resume payin ...

Assignment - alternative valuation methodsyou may do this

Assignment - Alternative Valuation Methods You may do this assignment individually or with one other person. In this assignment, you use horizon value calculation methods to estimate the current market value of a private ...

What are financial ratios commonly used in quantitative

What are financial ratios commonly used in quantitative models of debt ratings? List THREE financial ratios that represent three different factors and explain why these ratios can capture the company's ability to meet it ...

What is the effective annual rate of a savings account that

What is the effective annual rate of a savings account that pays an APR of 3% and compounds quarterly? Answer in percent and round to two decimal places.

If you deposit 806 into an account paying 2300 annual

If you deposit $806 into an account paying 23.00% annual interest compounded quarterly, how many years until there is $14,806 in the account? If you deposit $214 into an account paying 07.00% annual interest compounded m ...

Find the present value if 7000 to be received one year from

Find the present value if $7000 to be received one year from now, assuming a 3 percent annual discount interest rate. Also calculate the present value if the $7,00 is received after two years.

How you will adjust your small business cash budget to

How you will adjust your small business cash budget to manage contingencies (such as emergencies and market shifts) as well as product and distribution shifts?

The stock of business adventures sells for 65 a share its

The stock of Business Adventures sells for $65 a share. Its likely dividend payout and end-of-year price depend on the state of the economy by the end of the year as follows: Dividend Stock Price Boom $2.40 $73 Normal ec ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Basic Finance Expert