A contractor has 15 employees with a total weekly payroll of $18,500. If the workers' compensation rate is $12.75 per $100 of payroll, what is the weekly premium?
Correct Answer
C) $2,358.75
Weekly premium = ($18,500 ÷ $100) × $12.75 = 185 × $12.75 = $2,358.75
Why This Is the Correct Answer
Weekly premium = ($18,500 ÷ $100) × $12.75 = 185 × $12.75 = $2,358.75
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