Paul Smith pays $50.00 a month for group health insurance. There is a $300 deductible. His medical bills for the last year were $2,600.00. Paul’s insurance company provided payment of 80% of the bills less the deductible. What was the insurance company's payment?

$1360

Step-by-step explanation:

Smith pays a monthly payment to the insurance company = $50

So in 12 months, he pays = 12 x 50

                                          = $ 600

Now subtracting a $ 2600 by the deduction of amount $300 , i.e. $2300.

Now multiplying it by 20 percent as the insurance company pays the 80% leaving Smith with 20%, to get $460.

Now adding $460 with $300, as these amount Smith paid and he got $760.

Now monthly payment = $760 + $600

                                      = $1360

the answer is 15% decrease