Social security taxes are 6.2% of your paycheck. Mabel earns $15 50/hr working concessions at Regal Cinemas in Green Hills. If she works 20 hours this week, how much is being taken out of her pay check for only social security taxes?

Answer 1

To calculate the amount being taken out of Mabel's paycheck for Social Security taxes, we need to follow these steps:

1. Calculate Mabel's total earnings for the week: \[ \text{Total Earnings} = \text{Hourly Wage} \times \text{Hours Worked} = 15.50 \times 20 \] \[ \text{Total Earnings} = 310 \]

2. Calculate the Social Security tax amount: \[ \text{Social Security Tax} = \text{Total Earnings} \times \text{Social Security Tax Rate} = 310 \times 0.062 \] \[ \text{Social Security Tax} = 19.22 \]

So, the amount being taken out of Mabel's paycheck for Social Security taxes is $19.22.