Question

As a fringe benefit you provide life insurance for your employees. What would a $132,000 policy cost if the charge was based on the following schedule.

$10 per $1000 for the next $40,000 insurance
$9 per $1000 for the next $40,000 insurance
$7 per $1000 for any amount over $80,000

Answer 1

@triciaal

Answer 2

is it next then next or should it be first 40000 then next 40000 then after 80000

Answer 3

40,000 then 40,000 then 80,000

Answer 4

exactally how it looks above

Answer 5

one approach
132000 -80000 = amount over 80000 divide by 1000
this gives # of 1000 over 80000 in 1000s
cost $7 per 1000
for the 80000 -40000 = 40000
divide by 1000 to get # of 1000s
cost $9 per 1000
next 40000 divide by 1000 to get #1000s
cost = $10/1000

total cost
over 80000 *7/1000 + 40*10 + 40*9 =

Answer 6

they should use different numbers so you can really see the difference

Answer 7

right!

Answer 8

read this slow and let me know if you have any questions

Answer 9

i dont get what formula to use on this

Answer 10

did I specifically tell you to read slow?

Answer 11

true ha

Answer 12

sorry i didnt see the formula u gave me till now

Answer 13

so i came up wih an answer of 1320

Answer 14

now whats next?

Answer 15

I got 1124

Answer 16

cannot be right
let me check

Answer 17

no its right

Answer 18

I have an answer book in the back of my book as well. your right

Answer 19

I think i have to use PEMDAS

Answer 20

the process is correct

Answer 21

52*7 + 40*10+40*9= 364 +400 + 360 = 1124