# Math

What will be the total deduction for social security and Medicare taxes on Lily's next monthly paycheck of \$3,260 if she has already earned \$29,340 this year? Social security tax is 6.2% of wages up to \$106,800. Medicare tax is 1.45% of all wages.

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1. clearly, the deduction will be

.062*3260 + .0145*3260

It will be the same for all her paychecks, since her annual earnings will fall well short of the SS cutoff point.

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posted by Steve

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