Salaries are: 48,000, 30,000, 24,000 per year. the company spends an additional 25% on health insurance for each person annually. How to I calculate the totals?
just multiply each salary by 1.25
To calculate the total salary including health insurance for each person, we need to find the amount spent on health insurance for each person and add it to their annual salary.
1. Find the amount spent on health insurance for each person:
- Multiply each person's salary by 25% to find the amount spent on health insurance for each person annually.
For example, for a salary of $48,000, 25% of $48,000 is $12,000 spent on health insurance per year.
2. Add the health insurance amount to each person's salary to get the total annual cost:
- Add the amount spent on health insurance to each person's salary to get the total cost for each person annually.
Let's calculate the totals using the given salaries:
For a salary of $48,000:
- Amount spent on health insurance: $48,000 * 25% = $12,000
- Total annual cost: $48,000 + $12,000 = $60,000
For a salary of $30,000:
- Amount spent on health insurance: $30,000 * 25% = $7,500
- Total annual cost: $30,000 + $7,500 = $37,500
For a salary of $24,000:
- Amount spent on health insurance: $24,000 * 25% = $6,000
- Total annual cost: $24,000 + $6,000 = $30,000
To summarize, the total annual costs including health insurance for each person are:
- $60,000 for a salary of $48,000
- $37,500 for a salary of $30,000
- $30,000 for a salary of $24,000