Question

An employee has an annual salary of $48,700. They receive $1,530 in health insurance and $2,810 in paid time off per year. They drive their personal vehicle for work which costs them $500 per month, but the company reimburses them $0.53 per mile for the total work miles driven. If the employee drives 9,000 miles for work for the year, what will be their total employment compensation?

Answer 1

51,810 is the total answer.

Answer 2

Answer is $51810.

Explanation:

Annual salary = $48700

Health insurance receivable = $1530

Amount of paid time off per year = $2810

Cost per mile reimbursed = $0.53

Miles driven = 9000 miles

So, reimbursed amount =
`0.53*9000=4770` dollars

Compensation =
`48700+1530+2810+4770=57810` dollars

Personal vehicle expense =
`500*12=6000` dollars

Total employment compensation =
`57810-6000= 51810` dollars

Answer is $51810.