19
QuizMultiple Choice

Personal Finances

Question 19 • LVA - Mathematical Modeling - Spring

Social Security is 6.2% of your total income. Suppose that your weekly pay is $850. For any given month, what is your total contribution to Social Security? Hint: Assume there are 4 weeks in a month.

Answer
A
$198.32
B
$205.65
C
$208.95
D
$210.80

Explanation

With 4 weeks in a month, your monthly pay is $850 × 4 = $3,400. Social Security contributions are 6.2% of that amount: $3,400 × 0.062 = $210.80, so the correct choice is $210.80.

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