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NISA [10]
3 years ago
5

Braden's employers covers 70% of the cost of a $5100-per-year health insurance plan, and Braden's share of the cost of the plan

is his only optional dedication. How much is deducted from Braden's paycheck each month for health insurance ?
Mathematics
2 answers:
borishaifa [10]3 years ago
5 0
I don't know how to get the answer, but i know the answer is 127.50.
Mandarinka [93]3 years ago
5 0

Answer:

$127.50

Step-by-step explanation:

We have been given that Braden's employers covers 70% of the cost of a $5100-per-year health insurance plan.

First of all, we will find annual amount of health insurance plan paid by Braden  by finding 30% (100-70) of $5100.

\text{Annual amount paid by Braden for health insurance}=\frac{30}{100}\times \$5100

\text{Annual amount paid by Braden for health insurance}=0.30\times \$5100

\text{Annual amount paid by Braden for health insurance}=\$1530

Now, we will divide $1530 by 12 to find amount deducted from Braden's paycheck each month.

\text{Monthly deduction for health insurance}=\frac{\$1530}{12}

\text{Monthly deduction for health insurance}=\$127.50

Therefore, an amount of $127.50 is deducted from Braden's paycheck each month for health insurance.

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The amount of interest Molly will earn after 5 years on a deposit of \$100 compounded annually over 5 years is \$27.63

First, we need to find the future value of her investment, then we subtract the original deposit from it to get the amount of interest she will get at the end of 5 years.

The future value of an investment that is compounded annually is given by

A=P(1+r)^t

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A=\text{Amount of money in Molly's account after 5 years}\\P=\text{Molly's initial deposit into her account}=\$500\\r=\text{The annual interest rate as a decimal}=0.05\\t=\text{The time the money is invested (in years)}=5

Substituting the available values into the formula and solving

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The interest Molly will earn after 5 years is

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Learn more about compound interest here: brainly.com/question/21270833

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