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The cost of $500,000 worth of 30-year term life insurance and for Fernando is $170.19 per month. If Fernando's employer covers 95% of this cost, how much is deducted from Fernando's gross income per year for life insurance?

Respuesta :

Answer:

Fernando will pay $102.114.

Step-by-step explanation:

If Fernando's gross income should be deducted $170.19 per month for life insurance, then he should be deducted = [tex]170.19\times12=2042.28[/tex]

As given, that his employer covers 95% of this amount, Fernando only needs to pay 5% for life insurance.

Getting 5% of $2042.28 we have,

[tex]0.05\times2042.28[/tex] = $102.114

Therefore, Fernando will pay $102.114.

laraunahc

the answer is $102.11 hope this helps!

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