Answer:
1. 93.75 comes out each month.
2. No table
3. 322.50 per month
4. 6.40 in 8 months
Step-by-step explanation:
1. The premium is 4500.
The company pays 75%, so that means I pay 100-75 = 25% percent.
4500 * 25%
4500 * .25 =1125 per year
Divide this by 12 to determine how much comes out each month
1125/12 =93.75 comes out each month.
2. There is no chart
3. The total set aside is 6+3 = 9 percent
43000 * 9 %
=43000 * .09
= 3870 per year
Divide this by 12 to get the amount per month
3870/12 =322.50 per month
4. Assuming simple interest
I = Prt where p is the principal, r is the rate and t is the time
I = 800 *(.012) *1
I = 9.60 in 1 year
Divide by 12 to determine the interest in 1 month
9.60/12 =.80
Multiply by 8 to determine the interest in 8 months
.8*80 = 6.40
