22
QuizMultiple Choice

Health Insurance

Question 22 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Sally’s employer pays for 38% of her annual health insurance premium of $4,350.00. Sally pays the remaining balance by having it deducted in equal amounts from her 26 paychecks throughout the calendar year. How much will Sally have deducted from each paycheck?

Answer
A
$63.58
B
$103.73
C
$137.75
D
$207.46

Explanation

Sally pays the remaining 100% − 38% = 62% of the $4,350 premium. That is $4,350 × 0.62 = $2,697 for the year. Divide by 26 paychecks: $2,697 ÷ 26 ≈ $103.73 per paycheck, so the correct choice is $103.73.

AI-written and checked against the verified answer.

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