Question

Question 2 of 35

The cost of $500,000 worth of 30-year term life insurance for Erik is $91.04
per month. If Erik's employer covers 70% of this cost, how much is deducted
from Erik's gross income per year for life insurance?
OA. $436.99
OB. $327.74
OC. $218.50
D. $764.74
SUBMIT

Answer 1

B. $327.74

Explanation:

First, multiply 91.04*0.30.

91.04*0.30=27.312

Now multiply 27.312 by 12, because there are 12 months in a year.

27.312*12=327.74

Hope this helps!