Billy’s employer pays for 65% of his annual health insurance premium. Billy has the rest deducted in equal amounts from his paycheck. If Billy has $105.73 withheld from his paychecks twice each month, how much does his employer contribute towards his health insurance on an annual basis? a. $683.18 b. $1,366.36 c. $2,356.27 d. $4,712.54 Please select the best answer from the choices provided A B C D

Option "D" is the correct answer to the following statement.

Explanation:

Given:

Billy pay for health insurance = $105.73 (Twice in month)

Billy’s employer pays percent = 65% = 65 / 100 = 0.65

Billy’s pay percent = 1 - employer pays percent = 1 - 0.65 = 0.35

Computation of Billy's total annual pay for health insurance:

Billy's total annual pay for health insurance = $105.73 × 2 × 12 months

Billy's total annual pay for health insurance = $2,537.52

Computation of Billy’s employer pays:

Billy’s employer pays = Billy's total annual pay for health insurance × (Billy’s employer pays percent / Billy’s pay percent)

Billy’s employer pays = $2,537.52 × (0.65 / 0.35)

Billy’s employer pays = $4712.53714

Billy’s employer pays = $4712.54 (approx)