Answer:
a). The company's percentage=60%
b). The total premium=$812.50
c). The company's payment=$487.50
Step-by-step explanation:
a).
The total premium can be expressed as;
T=H+R
where;
T=proportion of total premium
H=proportion paid by Harold Wagner
R=remaining proportion
In our case;
T=100%
H=40%
R=r
replacing;
100%=40%+r
r=100%-40%
r=60%
The company's percentage=60%
b).
The total premium, if 40%=$325.00
Let total premium be=t
40% of t=325
(40/100)×t=325
0.4 t=325
t=325/0.4
t=$812.50
The total premium=$812.50
c).
The company's payment=60% of total premium
The company's payment=(60/100)×812.5
The company's payment=$487.50
