Financial Algebra U1 P3-5 Review

Paid time off for vacation

• Paid vacation time
• Stock ownership
• Medicare
• Paid sick time

Compensation that an employee receives from an employer after retirement

• Pension
• Medicare
• Social Security
• Commission

A plan that allows employees to buy or receive company stock

• Stock ownership
• Pension
• Commission
• Royalties

Covers 90% of all American jobs and provides income to those that are retired, injured, or the surviving family members.

• Social security
• Medicare
• Pension plan
• Royalties

Paid time off to take care of a sick child

• Childcare leave
• Paid vacation time
• Family healthcare
• Individual healthcare

Health coverage for people 65 or over, or disabled

• Medicare
• Social Security
• Pension
• Commission

Covers only the individual when sick

• Individual healthcare
• Family healthcare
• Medicare
• Social Security

Covers all members of the immediate family for health care

• Family healthcare
• Individual healthcare
• Childcare leave
• Pension

Sam works at Fifth Third Bank. His employer offers him a pension retirement plan which will be 2.125% of his average salary for the last four years of employment for every year worked. Sam is planning on retiring at the end of this year after 28 years of employment. His salaries for the last four years are $76,125, $77,200, $77,975 and $78,000. Calculate Sam's pension.

• $46,008.38
• $75,000
• $1643.16
• $49,215.25

In Mel's state, the unemployment compensation is calculated by finding the total of the quarterly wages of two consecutive quarters and dividing that amount by 26. The weekly unemployment amount is 55% of that figure. In the quarter consisting of January, February, and March, Mel made a total of $15,679. In the quarter consisting of April, May and June, he made $18,458. Find Mel's weekly unemployment amount.

• $722.13
• $1312.96
• $710.15
• $1310.22