Choose the answer.

Question

Amanda has a job that pays $92,000 per year. How much will she pay in social security taxes? (Social security taxes are 6.2% of earnings.)

Question 5 options:

$570.40

$5,704.00

$14,838.00

$57,040.00

Answer 1

To calculate the social security taxes, we need to find 6.2% of $92,000.

6.2% of $92,000 = (6.2/100) * $92,000
= $5,704.00

Therefore, Amanda will pay $5,704.00 in social security taxes.

The correct answer is $5,704.00.