Which of the following employees has the greatest total employee compensation?
a.
employee a: total job benefits $49,200 and total job expenses $300
b.
employee b: total job benefits $49,500 and total job expenses $500
c.
employee c: total job benefits $ 49,800 and total job expenses $700
d.
employee d: total job benefits $50,100 and total job expenses $900

answer: the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.

step-by-step explanation:

the given rate of interest i= 85%

in calculating the monthly payment for a loan with an interest rate compounded monthly, the value of the interest rate per period we use in the formula must be in decimal form.

to convert it in decimal, we divide it by 100, we get

hence, the value should be used for i in the formula of calculation the monthly payment , the interest rate per period is 0.85.