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?\nbiweekly 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?\nbiweekly insurance cost = $?

Answer

Answer:

$52.5$

Explanation:

Step1: Calculate employee's annual cost

The employer pays 70%, so the employee pays $100%-70% = 30%$. The annual cost for the employee is $0.3\times7020=$2106$.

Step2: Calculate number of bi - weekly periods

There are $\frac{52}{2}=26$ bi - weekly periods in a year.

Step3: Calculate bi - weekly cost

The bi - weekly cost is $\frac{2106}{26}=$52.5$.