health insurance coverage for an employee and their spouse is $7,020 per year. the employer pays 70% of that…

health insurance coverage for an employee and their spouse is $7,020 per year. the employer pays 70% of that cost. how much is taken from the employees biweekly paycheck? biweekly insurance cost = $?

health insurance coverage for an employee and their spouse is $7,020 per year. the employer pays 70% of that cost. how much is taken from the employees biweekly paycheck? biweekly insurance cost = $?

Answer

Explanation:

Step1: Calculate employee's annual cost

The employer pays 70%, so the employee pays 100% - 70% = 30% of the $7,020 cost. $7020\times0.3$

Step2: Calculate number of bi - weekly periods

There are 52 weeks in a year, so the number of bi - weekly periods is $\frac{52}{2}=26$.

Step3: Calculate bi - weekly cost

Divide the employee's annual cost by the number of bi - weekly periods. $\frac{7020\times0.3}{26}$

$7020\times0.3 = 2106$ $\frac{2106}{26}=81$

Answer:

81