Hannah earns $52,000 per year, receives 10 days PTO, 6% retirement matching, Employee Benefits Health Insurance 60% FICA 7.65% and receives 60% employer-subsidized health insurance which Paid Vacation 10 days (PTO) totals $10,000. Calculate the benefit rate. Retirement 6% Matching A. 71% В. 37% C. 29% D. 21%
Hannah earns $52,000 per year, receives 10 days PTO, 6% retirement matching, Employee Benefits Health Insurance 60% FICA 7.65% and receives 60% employer-subsidized health insurance which Paid Vacation 10 days (PTO) totals $10,000. Calculate the benefit rate. Retirement 6% Matching A. 71% В. 37% C. 29% D. 21%
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Hannah earns $52,000 per
year, receives 10 days PTO,
6% retirement matching,
and receives 60%
Employee Benefits
Health Insurance
60%
FICA
7.65%
Paid Vacation
(PTO)
employer-subsidized
health insurance which
totals $10,000. Calculate
the benefit rate.
10 days
Retirement
6%
Matching
A. 71%
B. 37%
C. 29%
D. 21%
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Expert Solution
Step 1
Employee benefits are benefits provided by the employer to the employee. Benefits are of both types: monetary benefit and non-monetary benefits. An employer provides benefits to the employee to aim to increase the morale of the employee, motivate the employee, and decrease the rate of the job leaving of the employee. Some of the benefits are also mandatory for the employer to provide to employees because these are given by law. After these types of benefits, the employee feels the value of their work increase.
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