Answer:
$7,520
Step-by-step explanation:
Insurance amount paid by Miquel semimonthly = $47.
Given that it is the 15% of total cost
According to question,
15% of total cost = $47
15/100 * total cost = $47
=> total cost = $47 * 100/15 = $313.33.
Hence $313.33 is the total cost of health insurance on semi -monthly basis.
semi monthly signifies that her health insurance cost is paid twice in a month
It means Miquel's health insurance cost for month will be twice of $313.33
which is equal to 2 * $313.33 = $626.66.
So for one month health insurance cost is $626.66.
We have to calculate yearly cost.
One year has 12 months.
Hence yearly cost will be 12 * monthly health insurance cost
yearly cost = 12 * $626.66 = $7,519.99 .
Total yearly cost to the nearest dollar of Miquel’s health insurance will be
$7,520
