Question

An architect's compensation package includes the total cost of a $250-per-month health insurance plan, the total cost of a $35-per-month life insurance plan, and a salary of $55,000 per year. What is the yearly value of the compensation package?

A. $58,420. B. $57,900. C. $54,750. D. $58,100. (i am soo confused..)

Answer 1

The answer is 58,420. If it is asking per year, and it is given in months all you need to do is multiply by 12. Add 250*12 and 35*12 and 55,000. You get 58,420

Answer 2

The answer is A $ 58,420

Step-by-step explanation:

If we multiply the monthly benefits of health and life insurance combined we will get the annual value of them.

$35 + $250 = $285

$285*12 = $3420

We already know the annual salary package which is $55000, by adding annual salary to the above calculated annual benefits you will get the total annual value of total compensation.

$55000+$3420 = $58,420