Question

Owen is planning surgery to repair the torn ligament in his knee. The total cost of the surgery is expected to be about $7,000. Owen has a $1,000 deductible and then a 20 per- cent co-pay for this procedure. How much will Owen pay for his part of the surgery?

Answer 1

$2200

Explanation:

Given that Owen has $7000 to pay, with a $1000 deductible. This means that he has, left to pay, $6000.

Again, we're told that he has 20% Co pay for the procedure. Taking 20% of $6000, we have

20/100 * 6000 = $1200. This means be has $1200 to co pay for the procedure.

Adding this newly calculated $1200 with the previously set aside $1000, we have a total of $2200. This is the price Owen will pay from his part, as part of the surgery