Annual cost of insurance plan is $3975. The company pays 70 percent. How much does Jack pay?
100% - 70% = 30%
How many is that in dollars?
30% out of 3975 = 30% * 3975
We need to write percentage in decimal form
[tex] \frac{30}{100} *3975 = 0.3*3975=1192.5[/tex]
Jack pays $1192.5 annualy for this insurance plan
Assuming that year has 52 weeks, price per week would be:
$1192.5 / 52 = $22.93
He is paid biweekly so he needs to pay twice this amount:
$22.93 * 2 = $45.86
His insurance cost per paycheck is $45.86.
