Question

Paul Woonan, a self employed accountant, is married and enrolls in a non-group health insurance plan. The plan costs $7,710 per year for the family coverage. What will he pay each month in premiums?

Answer 1

Paul Woonan's monthly health insurance premium for family coverage is $642.50, obtained by dividing the total annual cost of $7,710 by 12 months.

Step-by-step explanation:

To calculate Paul Woonan's monthly health insurance premium payments, we would divide the annual cost of the family coverage plan by the number of months in a year.

Annual cost of the plan: $7,710

Number of months in a year: 12

We perform the division: $7,710 ÷ 12 = $642.50.

Therefore, Paul Woonan will pay $642.50 per month in premiums for his family's health insurance plan.

Answer 2

In this question, we're trying to find how much Paul will pay per month in premiums.

We know that the plan costs $7,710 for a year

In order to find his premium cost per month, we need to get the total price for the year and divide it by 12, since there are 12 months in a year.

Solve:

7,710 ÷ 12 = 642.5‬0

This means that he'll pay $642.5‬0 a month.

Answer:

$642.5‬0