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

August Haley

Mathematics

27 October, 01:12

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?

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Answers (2)

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Sarahi Hanna · Answer 1

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

Edwin Erickson · Answer 2

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