A new phone costs $800. Margaret has insurance on her phone that covers 73% of the cost of a new phone if something happens. If her phone is stolen or broken, how much will she have to pay for a new phone?

To solve this problem, we multiply the cost of a new phone by the percentage she would have to pay. We know that her insurance covers 73%, so she will have to pay the difference.
100% – 73% = 27%
So, Margaret has to pay 27% of the total cost of the phone. Let’s convert 27% into a decimal in order to solve. We convert a percentage into a decimal by dividing by 100.
27% = \(27 \div 100 = 0.27\)
Multiply the percentage Margaret is responsible for (0.27) times the total cost of the phone (800) to calculate the dollar amount Margaret will pay for the phone.
\(800 \times 0.27= 216\)
She will have to pay $216.