Can someone help me with this please?
1 answer:
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Given
Find out the what was the insurance company's payment .
To proof
As given
Sally Jones pays $50.00 a month for group health insurance
There is a $300 deductible
Her medical bills for the last year were $2,600.00
Linda's insurance company provided payment of 80% of the bills less the deductible.
Deductible
The amount of money you will pay in an insurance claim before the insurance company starts paying you.
medical bill reducing the deductible = $2,600 - $300
= $2300
80 % is written in the decimal form
= 0.8
than the equation becomes
Linda's insurance company provided payment = 0.8× 2300
= $1840
Therefore the the insurance company's payment be $1840 .
Hence proved
Given:
Rate of simple interest = 5%
Time = 4 years
Total interest = $160
To find:
The amount borrowed by Austin from a credit union.
Solution:
The formula for simple interest is:
Where, P is principal, r is the rate of interest and t is the number of years.
Putting in the above formula, we get
Multiply both sides by 5.
Therefore, Austin borrowed $800 from a credit union for 4 years.