5.4 Employee Benefits

Ali has worked at a fashion magazine for the last 5 years. Her current annual salary is $64,000. When she was hired, she was told that she had four days of paid vacation time. For each year that she worked at the magazine, she would gain another three days of paid vacation time to a maximum of 26 days. How many paid vacation days does she now get at the end of five years of employment?

• 26 days

• 19 days

• 2 weeks

• 15 days

Ina’s employer offers a sliding paid vacation. When she started work, she was given two paid days of vacation. For each six-month period she stays at the job, her vacation is increased by two days. How much vacation time will she have after working for this employer for 3.5 years?

• 7 days

• 4 days

• 14 days

• 16 days

When Tyler started at his current job, his employer gave him five days of paid vacation time with a promise of five additional paid vacation days for each two-year period he remains with the company to a maximum of five work weeks of paid vacation time.

a. It has been eight years since Tyler began working for this employer. How many paid vacation days has he earned?

• 10 days

• 25 days

• 40 days

• 5 weeks

When Tyler started at his current job, his employer gave him five days of paid vacation time with a promise of five additional paid vacation days for each two-year period he remains with the company to a maximum of five work weeks of paid vacation time.

b. When will Tyler reach the maximum number of paid vacation days allowable?

• after 8 years

• after 5 years

• After 10 years

• After 7 years

Martha’s employee benefits include family health care coverage. She contributes 18% of the cost. Martha gets paid biweekly. It cost $15,600 total a year for family health care coverage. How much does Martha pay per paycheck for the family coverage?

• $92.50

• $65

• $108

• $156.72

Rachel contributes 20% of the cost of her individual health care. The total cost of her individual health care is $9,880. How much does Rachel pay weekly for her health care?

• $38

• $62

• $109

• $84

Dan’s employee benefits include health care coverage. His employer covers 78% of the cost. If it cost $2,051 total for health care coverage, how much does Dan pay for his coverage?

• $451.22

• $294.65

• $317.48

• $377.91

At Chocolatier Incorporated, there are two factors that determine the cost of health care. If an employee makes less than $65,000 per year, he pays 10% of the total costs for individual coverage and 15% for family coverage. If an employee makes at least $65,000 per year, individual coverage is 15% of the total cost and family coverage is 20%.

a. Graham makes $62,800 per year. He has individual health care. The total cost of Graham's health care is $6,240 per year. How much does Graham contribute per year?

• $624

• $1,245

• $2,097

• $831

At Chocolatier Incorporated, there are two factors that determine the cost of health care. If an employee makes less than $65,000 per year, he pays 10% of the total costs for individual coverage and 15% for family coverage. If an employee makes at least $65,000 per year, individual coverage is 15% of the total cost and family coverage is 20%.

b. Graham makes $62,800 per year. He has individual health care. The total cost of Graham's health care is $6,240 per year. How much does his employer contribute per year?

• $6,000

• $4,350

• $5,616

• $4,838

At Chocolatier Incorporated, there are two factors that determine the cost of health care. If an employee makes less than $65,000 per year, he pays 10% of the total costs for individual coverage and 15% for family coverage. If an employee makes at least $65,000 per year, individual coverage is 15% of the total cost and family coverage is 20%.

c. Claudia's annual salary is $75,400. She has family health care. The total cost of Claudia's health care is $14,088 per year. How much does Claudia contribute per month?

• $234.80

• $125.67

• $319.08

• $189.89