a certain construction company is obligated to pay 25.12% on earned wages into workers compensation…

a certain construction company is obligated to pay 25.12% on earned wages into workers compensation insurance. what is the workers compensation payment on $25,000 of wages? worker’s comp. payment = $? round to the nearest hundredth.

a certain construction company is obligated to pay 25.12% on earned wages into workers compensation insurance. what is the workers compensation payment on $25,000 of wages? worker’s comp. payment = $? round to the nearest hundredth.

Answer

Explanation:

Step1: Convert percentage to decimal

To use the percentage in a calculation, we convert 25.12% to a decimal. We divide the percentage by 100. So, $25.12%=\frac{25.12}{100}=0.2512$.

Step2: Calculate the payment

We multiply the decimal - form of the percentage by the total wages. Let $P$ be the worker's compensation payment, $w = 25000$ be the total wages, and $r=0.2512$ be the rate. Then $P = r\times w$. Substituting the values, we get $P=0.2512\times25000$. $0.2512\times25000 = 6280.00$

Answer:

$6280.00$