a certain retail company is obligated to pay 2.17% on earned wages into workers compensation insurance. what…

a certain retail company is obligated to pay 2.17% 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 retail company is obligated to pay 2.17% 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

Answer:

$542.50$

Explanation:

Step1: Convert percentage to decimal

$2.17%=0.0217$

Step2: Calculate payment

$0.0217\times25000 = 542.50$