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Hi can somebody please explain the second question and how you got it?

Thank you in advance!

Hi can somebody please explain the second question and how you got it? Thank you in-example-1
User LotAbout
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1 Answer

7 votes

Nice work on getting part (a) correct.

The 261% falls in the "250-300%" range, so they pay 8.5% of their yearly income toward health insurance.

8.5% of $65,500 = 0.085*65500 = 5567.50

That represents the yearly contribution. Divide that by 12 to find the monthly contribution.

5567.50/12 = 463.95833 = 463.96 approximately

Then round to the nearest dollar to get 464

Answer to part (b) is 464

User GreenTigerEye
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