josie earns $52,000 per year, receives 15 days pto, 6% retirement matching, and receives 70% employer…

josie earns $52,000 per year, receives 15 days pto, 6% retirement matching, and receives 70% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\n|employee benefits| |\n|--|--|\n|health insurance|70%|\n|fica|7.65%|\n|paid vacation (pto)|15 days|\n|retirement matching|6%|\n\nround to the nearest percentage point.

josie earns $52,000 per year, receives 15 days pto, 6% retirement matching, and receives 70% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\n|employee benefits| |\n|--|--|\n|health insurance|70%|\n|fica|7.65%|\n|paid vacation (pto)|15 days|\n|retirement matching|6%|\n\nround to the nearest percentage point.

Answer

Explanation:

Step1: Calculate value of PTO

Assume a 260 - working - day year. The value of PTO as a percentage of salary is $\frac{15}{260}\times100\approx5.77%$.

Step2: Calculate total benefits

Add up the percentages of each benefit component. The health - insurance subsidy is not a percentage of salary in the way we are calculating here. We add the PTO percentage, FICA percentage, and retirement - matching percentage. So the total benefit rate is $5.77%+7.65% + 6%$. $5.77+7.65 + 6=19.42%$.

Step3: Round the result

Rounding $19.42%$ to the nearest percentage point gives $19%$.

Answer:

$19%$