Missing portion in question:
Tax rate for Social Security and Medicare for the company The Open-Pit Furnace Co. is not given in the question. Usually these taxes apply on following rate:
Social Security Tax Rate = 6.2%
Medicare Tax Rate = 1.45%
Answer:
$6,500
Step-by-step explanation:
Total deducted amount from her salary was $497.25 i.e. some of the taxes for social security and medicare. If these taxes are on the rate mentioned above, total salary can be calculated.
Total deduction = (6.2%+1.45%) of the salary
497.25=7.65% of the salary
Let the total salary = $x
[tex]497.25=\frac{7.65}{100}*x\\=\frac{497.25*100}{7.65} \\=\frac{49725}{7.65} \\=6500[/tex]
So, her monthly salary is $6500
