Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammypays the remaining balance by having it deducted in equal amounts from her 26 paychecksthroughout the calendar year. How much will Sammy have deducted from each paycheck?

As the employer is paying 40% of the premium Sammy will pay the balance of 100% - 40% = 60%

Answered: Sammy's employer pays for 40% of her…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Sammy's employer pays for 40% of her annual health insurance premium of $5,150.00. Sammy pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sammy have deducted from each paycheck?