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A certain retail company is obligated to pay 2.17%on earned wages into Worker's Compensationinsurance.What is the Worker's Compensation payment on$40,000 of wages?Worker's Comp. payment = $ [?]Round to the nearest hundredth.

Sagot :

[tex]\text{Percentage }=Base\times Rate[/tex]

Given information:

Rate = 2.17/100 = 0.0217

Base = $40,000

[tex]\begin{gathered} \text{Percentage }=Base\times Rate \\ \text{Percentage }=40,000\times0.0217 \\ \text{Percentage }=868 \end{gathered}[/tex]

Therefore, the Worker's Compensation Payment will be $868.00.

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