Can someone please help me with this I am so confused I have been working on it for 2 hrs!!
Bayside Insurance offers two health plans under plan A Gary would have to pay the first $70 off his medical bills plus 30% of the rest. Under plan B Gary would pay the first $170 but only 20% of the rest. For what amount of medical bills will plan B save Gary money. Assume that Gary has over $170 in bills
Gary would save with plan b if she has over $? In bills
Let the amount of bills be X. The amount paid in plan A is then
70 + 0.3(X-70)
With plan B, the amount paid is
170 + 0.2(X-170)
The two amounts are equal when
70 + 0.3(X-70) = 170 + 0.2(X -170)
0.3X - 21 = 100 + 0.2X -34
0.1X = 87
X = $ 870
With bills of $870, he pays $310 with either plan.
If bills are higher than that, plan B is better.
Thank you so much for explaining this
To figure out the amount of medical bills for which Plan B would save Gary money, we need to set up an equation and solve for the amount.
Let's represent the amount of medical bills as 'x'.
Under Plan A, Gary would have to pay the first $70 plus 30% of the rest. So the total amount he would have to pay under Plan A can be expressed as (70 + 0.3x).
Under Plan B, Gary would pay the first $170 plus 20% of the rest. So the total amount he would have to pay under Plan B can be expressed as (170 + 0.2x).
We want to find the value of 'x' for which Plan B saves Gary money, meaning the amount he would have to pay under Plan B is less than the amount he would have to pay under Plan A.
Setting up the equation:
170 + 0.2x < 70 + 0.3x
Now, let's solve this equation to find the value of 'x'.
First, let's simplify the equation:
0.2x - 0.3x < 70 - 170
-0.1x < -100
Divide both sides by -0.1 (which is the same as multiplying both sides by -10 to eliminate the fraction):
x > -100 / -0.1
x > 1000
So, Gary would save money with Plan B if his medical bills exceed $1,000.