bobs employer covers 23% of his familys annua...
bobs employer covers 23% of his familys annual health insurance premium. the balance of the premium is deducted in equal amounts from bobs paycheck 26 times over the calendar year. if $185.30 is withheld from each of bobs paychecks, what is his familys annual health insurance premium? a. $805.65 b. $4,817.80 c. $6,256.88 d. $20,946.96 please select the best answer from the choices provided a b c d
Answer
# Explanation:
## Step1: Calculate total amount deducted
The amount deducted from each paycheck is $185.30$ and it is deducted 26 times. So the total amount deducted is $185.30\times26$.
$185.30\times26 = 4817.8$
## Step2: Find the percentage of premium deducted
The employer covers 23% of the premium, so the percentage of the premium that is deducted is $100 - 23=77\%$.
## Step3: Calculate the annual premium
Let the annual premium be $x$. We know that 77% of $x$ is equal to the total amount deducted. So we have the equation $0.77x = 4817.8$. Solving for $x$ gives $x=\frac{4817.8}{0.77}$.
$x = 6256.88$
# Answer:
C. $6,256.88$