Question

. Orphan Anne had two jobs in 2016 One employer paid her $85.050. Another paid her $75250. Each employer took out 62% for Social Security. How much did Orphan Anne overpay in Social Sony for 20167 $2.591.60$160,300$160,299.944 $21592 11. Lary's annsal salary is $100,000. His employer matches his 401(k) contributions at S0.75 for each dollar up to 8% of his annual salary. Larry contributes $660 from each biweekly paycheck to his 401(0k) account. What is the combined total of his annual contribution and his employer's centribution? 56,000 $23,160$8,000 d$17,160 a $ Magic Mike turned age 65 in 2016, and he is computing Social Security benefies. Using the formala from Example 3 in the 10-2 motes, compute his Social Security fall retirement if his average moschlhy over his 35 year highest-paying years was $3.466. Round to the nearest dellar 12 a $1,605.60 h$3,466 $38,79696 $26942 Use the mortality table to answer the following Based on the table, what is the probability that a 62-year-old female will live to her 63T birthday? a. 010582 b 153312 014123 d. 91041 13. Pat the Painter's employer offers an annual pension plan benefit calkculated by mailtiplying by 14 multiplying 2.36% of the career average salary times the number of years employed. Sam Cookes salary for the last B years are 52,500 53,000 53250 $5,250 55,800 56.400 56,400 57,000 What is Pat the Painter's career average salary? $41,857 50 $494,850$3,43646 S494850 c. $3.43646 d $54,950 Whae is Sam Cooke's from problem #14 annual pension under the plant 15,

Answer 1

10.

social security tax has to be with held only upto $118500 salary for 2016.

social security tax due = 118500*6.2%= 7347$

Social security tax actually witheld = [85050*6.2%] + [75250*6.2%]

=5273.1+4665.5

=9938.6

excess social security tax = 9938.6-7347

=2591.6$ answer