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.