$311.25 is the amount deducted from the monthly paycheck, if, the annual premium for the insurance is $12,450.00 and target offers their employees group health insurance and covers 70% of the cost.
First, find the amount that the employee contributes to the cost. it can be calculated by multiplying the annual premium by the percentage they pay
$12450.00 x 70%
= $12450 x 70/100
= $8715
Now, subtract the employee's contribution from the total to find the amount that is being taken out of their pay check
12450 - 8715 = - 3735
To find the amount deducted monthly, divide the difference amount by 12
= $3735/12
= $311.25
The amount deducted from monthly paycheck is $311.25
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