## Related questions with answers

Question

The Lentag Company spent $\$ 3,750$ per employee this year to provide a medical insurance benefit for its 1,100 employees. The insurance company notified Lentag that medical insurance costs would increase $12 \%$ next year. Lentag's management decides to keep the same medical coverage but will require employees to pay $15 \%$ of the total cost of the medical insurance increase.

What amount will each employee pay a year for medical insurance?

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 4For this exercise, we are to calculate the amount that each employee of Lentag Company has to pay for the new cost of insurance. The company ordered them to pay $15\%$ of the new insurance cost increase.

*What quantities are needed for us to determine the value of the percentage?*

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