Question

Manuel pays $38 semimonthly for health insurance, which is 15% of the total cost of the policy. his employer pays the remainder of the policy. what is the total yearly cost to the nearest dollar of manuel's health insurance?

Answer 1

The total yearly cost of Manuel's health insurance, where he pays $38 semimonthly representing 15% of the total, is $6,080 to the nearest dollar.

Step-by-step explanation:

The question asks us to calculate the total yearly cost of Manuel's health insurance policy, given that he pays $38 semimonthly, and this payment constitutes 15% of the total policy cost, with the employer covering the remainder.

First, determine Manuel's monthly and then yearly contribution by multiplying the semimonthly payment by two for the monthly amount, and then by twelve for the yearly amount. Next, since Manuel's payment represents 15% of the total cost, you would divide Manuel's yearly payment by 0.15 to find the total cost of the policy. Finally, Manuel's employer pays the rest of it.

Here are the steps:

1. Calculate Manuel's monthly payment: $38 semimonthly * 2 = $76 per month.
2. Calculate Manuel's yearly payment: $76 monthly * 12 = $912 per year.
3. Divide Manuel's yearly payment by 0.15 to find the total yearly cost: $912 / 0.15 = $6,080.

To the nearest dollar, the total yearly cost of Manuel's health insurance policy is $6,080.