Question
health insurance coverage for an employee and their children is $6,240 per year. Their employer pays 70% of that cost. How much is taken from the employee's biweekly paycheck?
Answers
GPT 3.5
To find out how much is taken from the employee's biweekly paycheck, we need to divide the annual cost by the number of pay periods in a year.
The employee's annual cost is $6,240 per year.
The employer pays 70% of that cost, which is 0.7 * $6,240 = $4,368 per year.
If there are 26 pay periods in a year (biweekly pay), then the employee's biweekly cost would be $4,368 / 26 = $168 per paycheck.
Therefore, $168 is taken from the employee's biweekly paycheck.
The employee's annual cost is $6,240 per year.
The employer pays 70% of that cost, which is 0.7 * $6,240 = $4,368 per year.
If there are 26 pay periods in a year (biweekly pay), then the employee's biweekly cost would be $4,368 / 26 = $168 per paycheck.
Therefore, $168 is taken from the employee's biweekly paycheck.