14
QuizMultiple Choice

Health Insurance

Question 14 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Javier’s employer pays for 43% of his annual health insurance premium. Javier pays the remaining balance by having it deducted from his paychecks in equal amounts twice a month throughout the year. If $157.38 is deducted from each of Javier’s paychecks, what is his total annual premium?

Answer
A
$3,313.26
B
$4,392.00
C
$6,626.53
D
$8,784.00

Explanation

Javier pays the remaining 57% of the premium. Since he has 24 paychecks per year, his annual deductions total $157.38 × 24 = $3,777.12. Divide that amount by 0.57 to find the full premium: $3,777.12 ÷ 0.57 ≈ $6,626.53, which is choice C.

AI-written and checked against the verified answer.

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