Answer to Question #158464 in Financial Math for Cassie

Question #158464

Martin has $4,200 in doctor bills for the year. His deductible is $300. His policy pays 80% once he has met his deductible for the year. How much in all did Martin pay including his deductible ?


1
Expert's answer
2021-01-28T14:41:21-0500

Answer:


Step 1

Doctor's bill=$4200

Deductible=$300


Step 2

Martin's payment=(4200-300)-("80 \\over 100"× 3900)

              =$780

Without excluding deductible

Martin's payment=4200-("80 \\over 100"× 4200)

              =$840


Therefore, Martin will pay a total of $840 which includes his deductible.


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