how much money will an employee who earns $50,000 per year pay in annual premium if using the short - term…

how much money will an employee who earns $50,000 per year pay in annual premium if using the short - term disability plan?\n| |short - term disability|long - term disability|\n|--|--|--|\n|benefit|60% of salary|50% of salary|\n|annual premium|1% of salary|3% of salary|\n$?

how much money will an employee who earns $50,000 per year pay in annual premium if using the short - term disability plan?\n| |short - term disability|long - term disability|\n|--|--|--|\n|benefit|60% of salary|50% of salary|\n|annual premium|1% of salary|3% of salary|\n$?

Answer

Explanation:

Step1: Identify the formula

Annual premium = Salary × Premium - percentage

Step2: Substitute the values

The salary is $50,000 and the premium - percentage for short - term disability is 1% or 0.01. So, Annual premium=$50000\times0.01$.

Step3: Calculate the result

$50000\times0.01 = 500$

Answer:

$500$