An employee has an annual salary of $48,700. they receive $1,530 in health insurance and $2,810 in paid time off per year. they drive their personal vehicle for work which costs them $500 per month, but the company reimburses them $0.53 per mile for the total work miles driven. if the employee drives 9,000 miles for work for the year, what will be their total employment compensation?

Question

Mathematics

Lilia Gaines

7 April, 10:41

An employee has an annual salary of $48,700. they receive $1,530 in health insurance and $2,810 in paid time off per year. they drive their personal vehicle for work which costs them $500 per month, but the company reimburses them $0.53 per mile for the total work miles driven. if the employee drives 9,000 miles for work for the year, what will be their total employment compensation?

+1

Answers (2)

Know the Answer?

Cottonball · Answer 1

Annual salary = 48, 700

Health Insurance = 1530

Paid time off = 2810

Employment compensation = Annual salary+Health Insurance + Paid time off

= 58700+1530+2810

= 53,040

Expenses = Vehicle cost per year - reimbursement

= (500*12) - 0.53*9000

=6000-4770

=1230 per year

Total compensation = 53,040-1230

= 51810 dollars

Jakobe Dodson · Answer 2

Compensation for the year:$51,810 (deducting vehicle expense)

An employee makes 48,700+1,530 (health insurance) + 2,810 (paid time) =

53,040. Also they receive 0.53 per mile x 9,000 miles=4,770

53,040 + 4,770=57,810 (employment compensation)

Personal work vehicle expense: 500 x 12 months=6,000

57,810 - 6,000 = 51,810