Question

What is the value of a yearly compensation package that includes a $54,000 salary, the full cost of a $250-per-month health insurance plan, and the full cost of a $40-per-month life insurance premium?

A, 54,730
B, 54,290
C, 57,480
D, 57,040

Answer 1

`250 * 12 = 3000`

`40 * 12 = 480`

`54000 + 3000 + 480 = 57480`
the answer is C

Answer 2

Option C. $57480

Explanation:

Yearly compensation package includes salary, health insurance and full cost of life insurance.

Compensation package will include salary = $54000

Yearly premium of health insurance = $250×12 = $3000

and yearly cost of insurance premium = $40×12 = $480

So, Yearly package will be = Salary + health insurance + Insurance premium

= 54000 + 3000 + 480

= $57480

Option C $57480 is the answer.