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Sally earns $3200 per month. If 6.2% is withheld for Social Security and 1.45% is withheld for Medicare, how much is withheld for FICA tax each month? Round your answer to the nearest cent, such as: $328.13.

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abiolataiwo2015

Answer:

$244.8

Explanation:

Calculation for how much is withheld for FICA tax each month

FICA tax =($3200 per month*Social Security 6.2%)+($3200 per month*Medicare 1.45%)

FICA tax =$198.4+$46.4

FICA tax =$244.8

Therefore how much is withheld for FICA tax each month is $244.8