A small business owner uses an Excel spreadsheet to calculate the costs of various health insurance options for her employees. The individual annual premium is in cell B5. The employers monthly contribution is in Cell D9 and the monthly cost of the family option is in cell B6. Which multimath formula should be entered in Cell E9 to calculate the monthly premium for an employee who selects the individual-only healthcare?

Question

Quizplus · Accepted Answer

To calculate the monthly premium for individual-only healthcare, we need to subtract the employer's monthly contribution from the individual annual premium (which needs to be converted to a monthly amount by dividing by 12). This is represented by the formula =(B5/12)-D9.

A Small Business Owner Uses an Excel Spreadsheet to Calculate