Answer:
15%
Explanation:
Catherine is a departmental manager at Richardson
She earns $68,300 every month
She has family health care
Her employer contributes $935 every year towards total coverage Cost
The first step is to calculate the total contribution
Catherine rate for health care is $165 since her monthly pay is higher than $55,000
Total contribution = $165 + $935
= $1,100
Therefore the percent in which Catherine contributes towards total coverage can be calculated as follows
= 165/1,100 × 100
= 0.15 × 100
= 15%
Hence Catherine contributes 15% towards the total coverage
Answer:
b.9%
Explanation:
Formula for annual rate of return formula is as follows;
Annual rate of return = [ (New value/ Initial value)^(1/t) ] -1
t = the total holding period of investment = 12 years
Old value = 22,000
New value = 62,000
Next, plug in the numbers to the formula;
Annual rate of return; r = [ (62,000/22,000) ^(1/12) ] -1
r = [2.8182 ^(1/12)] - 1
r = 1.0902 -1
r = 0.0902 or 9%
