sofia earns $70,000 per year, receives 15 days pto, 8% retirement matching, and receives 70% employer…

sofia earns $70,000 per year, receives 15 days pto, 8% 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|8%|\n\nround to the nearest percentage point.

sofia earns $70,000 per year, receives 15 days pto, 8% 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|8%|\n\nround to the nearest percentage point.

Answer

Explanation:

Step1: Calculate 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 PTO as a percentage of salary is $\frac{15}{240}\times100%=6.25%$.

Step2: Calculate value of health insurance

The employer - subsidized health insurance is $10,000 and the salary is $70,000. The value of health insurance as a percentage of salary is $\frac{10000}{70000}\times100%\approx14.29%$.

Step3: Sum up all benefit percentages

The known benefit percentages are: PTO 6.25%, health insurance 14.29%, FICA 7.65%, retirement matching 8%. The total benefit rate is $6.25% + 14.29%+7.65% + 8%=36.19%$.

Step4: Round the result

Rounding 36.19% to the nearest percentage point gives 36%.

Answer:

36%