Answer:
Step-by-step explanation:
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In order to see the probaability of this we need to do an easy calculation here:
If X<span> is the price for the policy, then we proceed like this:
</span>0.982x = 0.0275*<span>31,000
</span><span>
x = 0.0275*</span><span>31,000</span><span>/0.982
Minimum ammount he can expect to pay = $868.12 </span>
For this case we must simplify the following expression:

To do this, we convert the mixed numbers to improper fractions:

Answer:
