Ask Question
19 December, 07:42

max fischer is a beekeeper. his annual group insurance costs 11,700. his employer pays 60% of the cost. how much does max pay semimonthly for it?

+2
Answers (1)
  1. 19 December, 10:04
    0
    To solve for the semimonthly payments on Max's insurance cost:

    Annual insurance rate: $11,700

    Employer pays 60%

    What is Max's amount to pay?

    (11,700) (.60) = $7,020

    Max's employer pays $7,020

    Max pays $4,680 (11,700-7,020)

    If Max pay's $4,680 a year and we want to know but he pays semimonthly, or twice a month then we need to divide his annual payment by 24 since there are 12 months and he pays twice a month.

    ($4,680/24) = $195

    Max pays $195 semimonthly for his insurance.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “max fischer is a beekeeper. his annual group insurance costs 11,700. his employer pays 60% of the cost. how much does max pay semimonthly ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers