Question

Hillary pays 9.25 of her monthly Life insurance premium, and her employer covers the rest. If her monthly premium 36.50, what is the annual value to Hillary of this benefit

Answer 1

36.50-9.25=27.25x12= 327.00

Answer 2

327.

Explanation:

We have been given that Hillary pays 9.25 of her monthly Life insurance premium, and her employer covers the rest. Her monthly premium 36.50.

First of all, we will find amount of monthly premium paid by Hillary's employer by subtracting 9.25 from 36.50.

`\text{Amount paid by Hillary's employer per month}=36.50-9.25`

`\text{Amount paid by Hillary's employer per month}=27.25`

To find annual value to Hillary of the benefit, we will multiply her monthly benefit by 12.

`\text{Hillary's annual benefits}=27.25* 12`

`\text{Hillary's annual benefits}=327`

Therefore, the annual value to Hillary of this benefit is 327.