Homework Answers
According to Sarah's current policy, the insurance company will pay 85% of any amount above decuctibe. Therefore Sarah needs to pay 15% of any amount above decuctibe.
Amount Sarah need to pay:
$750(deductible) + 15% of ($8,893 - $750)
= $750 + 15% of $8,143
= $750 + $1,221.45
= $1,971.45
If she goes as per her friend's advice she will have to pay first
$3,000. She saved $(3,000 - 1,971.45) = $1,028.55 with her current policy.
Therefore her friend was not right.
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