Question

Bob’s employer covers 23% of his family’s annual health insurance premium. The balance of the premium is deducted in equal amounts from Bob’s paycheck 26 times over the calendar year. If $185.30 is withheld from each of Bob’s paychecks, what is his family’s annual health insurance premium?

Answer 1

The amount withheld from Bob's paycheck is equivalent to the amount he pays for his family's health insurance premium, and because his employer covers 23% of the premium, the amount Bob pays is equivalent to 77% of the premium. Amount paid by Bob = 26 * 185.3 = $4,817.80 We divide this amount by 77% in order to calculate the total amount, 4,817.8 / 0.77 = $6,256.88 is Bob's family's annual health insurance premium

Answer 2

Bob’s family annual health insurance premium is $6,256.88

From the given question:

• Each amount withheld from Bob’s paychecks = $185.30
• Bob’s family annual health insurance premium =?
• We are also given question that the balance of the premium is deducted in equal amount from Bob’s paycheck 26 times over the calendar year.

Further Explanation

Firstly, we have to determine bob’s salary by multiplying each amount withheld from Bob’s paycheck.  

Therefore we have:

26 x 185.30

= $4817.80

Recall that the Bob’s family annual health insurance premium covers by his employer = 23%, it then means bob will have to cover 77% of the health insurance.

Therefore, to calculate bob’s family annual health insurance premium, you have to divide bob’s salary by the amount pays by Bob, which is 77%

Therefore, you have:

4817.80 / 0.77 (77/100)

= $6,256.88

Therefore, Bob’s family annual health insurance premium is $6,256.88

LEARN MORE:

• Bob’s employer covers 23% of his family’s annual health insurance premium. The balance of the premium is deducted in equal amounts from Bob’s paycheck 26 times over the calendar year brainly.com/question/2010067
• Bob’s employer covers 23% of his family’s annual health insurance premium. The balance of the premium is deducted in equal amounts from Bob’s paycheck 26 times over the calendar year. brainly.com/question/2225248

KEYWORDS:

• insurance
• bob
• paychecks
• premium
• employer