maria earns $50,000 per year, receives 10 days pto, 8% retirement matching, and receives 70% employer…

maria earns $50,000 per year, receives 10 days pto, 8% retirement matching, and receives 70% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\nemployee benefits\nhealth insurance 70%\nfica 7.65%\npaid vacation (pto) 10 days\nretirement matching 8%\n\nround to the nearest percentage point.

maria earns $50,000 per year, receives 10 days pto, 8% retirement matching, and receives 70% employer - subsidized health insurance which totals $10,000. calculate the benefit rate.\n\nemployee benefits\nhealth insurance 70%\nfica 7.65%\npaid vacation (pto) 10 days\nretirement matching 8%\n\nround to the nearest percentage point.

Answer

Explanation:

Step1: Calculate the value of PTO

Assume a 20 - work - day month and 12 months in a year, so 20×12 = 240 work - days in a year. The value of 10 days PTO as a percentage of total work - days is $\frac{10}{240}\times100%\approx4.17%$.

Step2: Calculate the total benefit rate

Add up the percentages of each benefit. Health insurance subsidy is 70% of $10000$ (but we consider the percentage contribution here), FICA is 7.65%, PTO is about 4.17%, and retirement matching is 8%. The total benefit rate is $7.65%+4.17% + 8%=19.82%$.

Answer:

20%