If the tax was 10%, then you’d end up paying the original 100% plus the additional 10% tax, so you’d pay 110% of the original price.
In your example, it’s the same, except you have 8.25% tax, so you’d pay 100%+8,25% or 108.25% of the original price.
That’s stated as a percent.
To convert a percent to a decimal, you divide by 100:
108.25 ÷ 100 = 1.0825
To convert a decimal to a fraction, you have to know the place value of the smallest place. In this case, the 5 is in the ten thousandths place.
10825/10000
You can always double check that fraction on a calculator.
Based on the maximum taxable amount for social security in 2009, and the social security tax rate, the social security tax that Larry paid was $7,347.
<h3>How much did Larry pay in social security taxes?</h3>
The total amount paid by Larry as Social security tax can be found as;
= Maximum amount allowable for social security tax x Social security tax rate
The social security tax rate was 6.2% not 62.2%.
The social security tax was therefore:
= 118,500 x 6.2%
= $7,347
Find out more on social security taxes at brainly.com/question/13255138
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The answer will be F=2x/x + 4/x