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Floyd's employer purchased a health insurance plan that costs $825 per month. Floyd pays $105 toward the plan each month. What is the annual value of the employer's contribution?

Verified Answer :

825-105=720. 720x12=8640

Answer: The annual value of the employer's contribution is $8640.

Step-by-step explanation:

Since we have given that

Amount that is incurred by Floyd's employer purchase a health insurance = $825

Amount he paid towards the plan = $105

So, that means the remaining amount is paid by the employer.

So,Monthly  Remaining amount would be

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So, Annual value of the employer's contribution is given by

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Hence, the annual value of the employer's contribution is $8640.

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