An insurance policy pays 80% of the first $20,000 of a patient's medical expenses, and 60% of the remainder. If the patient's to
1 answer:
Answer:
The policy pay $47200 .
Step-by-step explanation:
As given
An insurance policy pays 80% of the first $20,000 of a patient's medical expenses, and 60% of the remainder.
80% is written in the decimal form.
= 0.80
Medical expenses pay by the insurance policy on first $20000 = 0.80 × 20000
= $16000
As given
Insurance policy pays 60% of the remainder.
The patient's total medical bill is $72,000.
Patient medical bill over $20000 = $72000 - $20000
=$52000
60% is written in the decimal form.
= 0.60
Medical expenses pay by the insurance policy on the remainder = 0.60 × $52000
= $31200
Total Medical expenses pay by the insurance policy = Medical expenses pay by the insurance policy on first $20000 + Medical expenses pay by the insurance policy on the remainder .
Total Medical expenses pay by the insurance policy = $16000 + $31200
= $47200
Therefore the policy pay $47200 .
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