Question

Jimmy's employee benefits include family health care coverage. He contributes 15% of the cost. Jimmy gets paid biweekly and $115.00 is taken out of each paycheck for family health care coverage. How much does his employer contribute annually for the family coverage?

Answer 1

Jimmy receive 26 paychecks per year because bi-weekly pay periods occur once every two weeks.

Since he contributes 15% of his paycheck= $115 for family health care coverage.

To determine how much does he contribute annualy, we need to multiplicate $115 by 26:

`115\cdot26=2,990`

Jimmy contributes $2,990 annualy for the family coverage.