Leah works for toffolon technicians in new hampshire, where she earns $30,000 annually. she contributes 3% to her 401(k), of whi

Question

3 years ago

8

Leah works for toffolon technicians in new hampshire, where she earns $30,000 annually. she contributes 3% to her 401(k), of whi

ch her employer matches 1.5%. her employer contributes $200 per month for her health insurance, $50 per month for her life insurance, and $25 per month for her ad&d insurance. toffolon technicians pays employer-only taxes and insurance that comprises an additional 15% of leah's annual salary. what is leah's total annual compensation?

Business

1 answer:

FrozenT [24] · Answer 1 · 2022-03-02T23:05:07+03:00

Answer:

Leah's total annual compensation is $38,250

Explanation:

According to the information provided Leah has an Annual Salary of $ 30,000 . To calculate Leah's total annual compensation we would have to calculate her Employer Contribution as follows:

Employer Contribution:

401(k) - $30,000 X 1.5%=$450

Health Insurance - $2,000 X 12=$2,400

Life Insurance - $50 x 12=$600

AD&D Insurance - $25 X 12=$300

Taxes & Insurance - $30,000 X 15%=$4,500

Therefore, Employer Contribution=$8,250

Total annual compensation=Annual Salary+Employer Contribution

Total annual compensation=$30,000+$8,250=$38,250