Question

*Need Help?!!!! Question I'm stuck on!!!

1. Janna’s gross annual income is $46,020. She is paid weekly and has 7% deducted from her paychecks for her 403(b). Her employer matches her deduction, up to 5%.

How much is deposited into Janna’s 403(b) each paycheck?
A) $61.95
B) $123.90
C) $619.50
D) $106.20

2. Janna’s gross annual income is $46,020. She is paid weekly and has 7% deducted from her paychecks for her 403(b). Her employer matches her deduction, up to 5%.

How much is deposited into Janna’s 403(b) each paycheck?
A) $61.95
B) $123.90
C) $619.50
D) $106.20

3. Ronald’s insurance company pays for 80% of his shoulder surgery, after he pays a $500 deductible.

How much will Ronald pay for his shoulder surgery if it costs $10,500?
A) $2000
B) $2500
C) $2600
D) $8500

Answer 1

1.) It is D) $106.20

46020 / 52 (because she's paid weekly) = 885
7% + 5% = 12%
885 x .12 = 106.2

2.) It is D) $106.20

46020 / 52 (because she's paid weekly) = 885
7% + 5% = 12%
885 x .12 = 106.2

3.) He will pay $500 + $2000, or $2500.