Determine the annual premium.?

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Determine the annual premium.?

Determine the annual premium for fire coverage on a home that has a property value of 62,000, if the owner wishes to have a $40,000 of coverage. The coverage is quotes by the insurance company at the rate of $.345 per 100 of coverage. What is the annual premium?

2007-03-06 18:26:05 · 2 answers · asked by sissy 3 in Science & Mathematics ➔ Other - Science

2 answers

(40000*.345)/100=138 OR
(.345/100)*40000=138

2007-03-06 22:46:07 · answer #1 · answered by Ali 5000 5 · 0⤊ 0⤋

$40,000.00 divided by 100 = 400

400 x .345 = 138

The annual premium would be $138.00

2007-03-07 02:33:21 · answer #2 · answered by ♥Carol♥ 7 · 0⤊ 0⤋