One health insurance policy pays for people claims by multiplying the claim amount by 0,8 and then subtracting$500. Define a variable and write an equation for this situation. Find the claim amount for an insurance payment of $4650
$4650 represents the amount after the deductible of $500.
So before the deductible of $500, the insurable amount was $4650+500=$5150.
Since the payment rate is 0,8, the claimed amount was:
$5150/0,8=$6437,50
Let's define the variable "x" as the claim amount. The equation for this situation can be written as:
Insurance payment = (Claim amount) * 0.8 - $500
To find the claim amount for an insurance payment of $4650, we can substitute the value of the insurance payment into the equation:
$4650 = x * 0.8 - $500
We can solve this equation to find the value of "x". Let's rearrange the equation:
$4650 + $500 = x * 0.8
$5150 = x * 0.8
To isolate "x", we can divide both sides of the equation by 0.8:
x = $5150 / 0.8
Solving this equation, we find:
x = $6437.5
Therefore, the claim amount for an insurance payment of $4650 would be $6437.5.
To define the variable, let's call the claim amount "C".
The equation for this situation can be written as:
Claim amount = (0.8 * C) - $500
To find the claim amount for an insurance payment of $4650, we will substitute this value into the equation:
Claim amount = (0.8 * $4650) - $500
Claim amount = $3720 - $500
Claim amount = $3220
Therefore, the claim amount for an insurance payment of $4650 would be $3220.