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Michael Murphy is employed at Agilent Technologies. He has family medical coverage through the group medical plan that Agilent provides for its employees. The annualpremium cost for Michael's family is $5,260. The company pays 70 percent of the cost. How much is deducted from his weekly paycheck for medical insurance? (Note: 52weeks in a year)$28.12$29.74$30,35$32.66None of these cholces are correct

Sagot :

The annual premium is given as 5260$

The company pays 70 percent of the cost.

Therefore the amount that company pays is given by:

[tex]5260\times\frac{70}{100}=3682[/tex]

The company pays 3682 dollars.

Therefore M has to pay:

[tex]5260-3682=1578[/tex]

M has to pay 1578$ annually

Hence the weekly payment given that there are 52 weeks in a year is given by:

[tex]\frac{1578}{52}=30.34615\approx30.35[/tex]

Hence mr M has to pay 30.35$ weekly for his medical insurance.

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