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Mickey Doren's group medical insurance coverage costs $94.50 semimonthly . His employer pays 65% of the cost. How much is the annual premium ?
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Mickey Doren's group medical insurance coverage costs $94.50 semimonthly . His employer pays 65% of the cost. How much is the annual premium ?

User Martinezdelariva
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1 Answer

10 votes
10 votes

Answer: $793.80

Step-by-step explanation:

The cost of the insurance is $94.50 semi-monthly which means this is paid twice a month.

In a month therefore, the cost is:

= 94.50 * 2

= $189

In a year this is:

= 189 * 12

= $2,268

The employer pays 65% which leaves Mr. Doren with 35%:

= 35% * 2,268

= $793.80

User Readyornot
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