Question

Sarah pays $48.00 each month to keep her house insured. if her house is valued at $223,050, about how much is sarah paying per $100 in homeowners insurance annually? a. $0.13 b. $0.26 c. $1.55 d. $3.09 please select the best answer from the choices provided a b c d

Answer 1

Sarah will be paying $0.26 in her homeowners insurance annually .

Option B is correct .

Sarah is paying $48 each month, so she will be paying  in a year.

                                      48 ×12 = 576

Let Sarah be paying 'x' per $100 in homeowners insurance annually.

Now, Sarah is paying for $223050 an amount of = 576

Now we will find the value of x

                             576×100 ÷ 223,050

                       X=      384÷1487

                        X = 0.258

Rounding off we will get X = 0.26.

Insurance :

A premium is the amount an individual or business pays for an insurance policy. Premiums are paid for insurance covering health insurance, auto insurance, home insurance and life insurance. A premium is the amount that an insured person pays to an insurance company on a regular basis to cover a risk. explanation:

In an insurance contract, risk is transferred from the policyholder to the insurer. To take this risk, insurance companies charge an amount called a premium.

Learn more about insurance :

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