Question

Baron de montesquieu pays $124.30 per month for his group medical coverage. His employer pays 65% of the cost. How much is the annual premium for montesquieu's health insurance?

Answer 1

$4261.71

Explanation:

Montesquieu's annual payment is ...

(12 mo) × ($124.30/mo) = $1491.60

This is the 35% of the cost that is not paid by his employer. So, the total cost can be found from ...

$1491.60 = 0.35 × annual premium

$1491.60/0.35 = annual premium ≈ $4261.71