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Math help(Personal finance)!?!?!?!?!?

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Math help(Personal finance)!?!?!?!?!?

Postby storm81 » Sun Apr 22, 2012 4:59 pm

Sergio's employer covers 80% of the cost of a $3300-per-year health insurance plan and 70% of the cost of a $1400-per-year disability insurance plan. If Sergio gets paid monthly, what is the total amount deducted from his gross income for health and disability insurance during each pay period?

A.$45.00
B.$90.00
C.$301.67
D.$150.83
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Math help(Personal finance)!?!?!?!?!?

Postby burneig » Sun Apr 22, 2012 5:05 pm

20% of 3300 = 660
30% of 1400 = 420

(660+420)/12 = $90 per month
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Math help(Personal finance)!?!?!?!?!?

Postby conchobhar » Sun Apr 22, 2012 5:08 pm

For your answer you take .80 times 3300, keep that answer. Then take .70 times 1400 and keep that answer. Add those two answers together and this is the total deducted from his gross amount each pay period.
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Math help(Personal finance)!?!?!?!?!?

Postby parry » Sun Apr 22, 2012 5:18 pm

For your answer you take .80 times 3300, keep that answer. Then take .70 times 1400 and keep that answer. Add those two answers together and this is the total deducted from his gross amount each pay period.
Since both insurance are calculated by per year. First, divide both the amount by 12.

3300/12=275
1400/12=116.67

Then times the figure by the percentage that is not covered by the company.

1-0.8=0.2
275*0.2=55

1-0.7=0.3
116.67*0.3=35

The answer for both would be the amount deducted from his gross income during each pay period.

55+35=90

Which is B.

anyway shouldn't you do your own homework?
parry
 
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