Trina's employer purchased a health insurance plan that costs $550 per month. Trina pays $85 toward the plan each month. What is the annual value of the employer's contribution?
A. $7560.00
B. $5580.00
C. $1020.00
D. $6600.00
5580
5580
To find the annual value of the employer's contribution, we need to calculate the total amount the employer contributes towards the health insurance plan in a year.
In a month, Trina's employer pays $550 for the plan, and Trina pays $85 towards it. So, the employer's monthly contribution is $550 - $85 = $465.
To find the annual value, we need to multiply the monthly contribution by the number of months in a year. Since there are 12 months in a year, the annual value of the employer's contribution is $465 * 12 = $5580.00
Therefore, the correct answer is B. $5580.00