Question

If your medical insurance costs $9,750 annually and

your employer pays 75% of the cost, how much do you
pay annually for the medical insurance?

Answer 1

$2,437.50

Explanation:

To calculate how much you pay annually for medical insurance, follow these steps:

Step 1: Determine the amount your employer pays.

If your employer covers 75% of the insurance cost, you need to calculate this amount. To do this, multiply the total insurance cost by 75% (or 0.75).

$9,750 x 0.75 = $7,312.50

Step 2: Calculate your portion of the cost.

To find out how much you pay annually, subtract the amount your employer covers from the total insurance cost.

$9,750 - $7,312.50 = $2,437.50

Therefore, you pay $2,437.50 annually for medical insurance.