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If you earned up to $113,700 in 2013 from an employer, your social security tax rate was 6.2% of your income. If
you earned over $113,700, you paid a fixed amount of $7,049.40.
c. How much money would you have made if you paid $4,000 in social security tax in 2013?

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Answer with Step-by-step explanation:

We are given that

If you earned upto $113,700 in 2013 from an employer then your security tax=6.2% of income

If you earned over $113,700 then, you paid amount of tax=$7049.40

We have to find the money you would have made when you paid $4000 in social security tax in 2013.

Let x be the income and f(x) be the amount of tax.

[tex]f(x)=\left\{\begin{matrix}0.062x&,if\ \ 0<x\leq113700 \\ 7049.40&,if\ \ 113700<x\end{matrix}\right.[/tex]

Substitute the values then we get

[tex]4000=0.062x[/tex]

[tex]x=\frac{4000}{0.062}=[/tex]$64516.13

When you would have mad $64516.13 then you paid $4000 in social security tax in 2013.

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