Question

Jordy was living in a third story apartment in his complex. Up there he was paying an annual renters insurance premium of $325.00. When an opportunity to move to the ground floor came up, he jumped on it, but found out that, since burglaries are more common on ground floor apartments, his renters insurance premium would go up by 18%. What is his new annual renter’s insurance premium. a. $58.50 b. $31.96 c. $268.96 d. $383.50

Answer 1

Answer:

The answer is option D $383.50

Explanation:

Initial annual renters insurance premium = $325

When Jordy moves to ground floor, the premium increases by 18%. So, the amount by which premium increases is = $\frac{18}{100}*325= 58.50$

So, the new premium amount becomes = $325+58.50$ = $383.50

Hence, the answer is $383.50

Answer 2

THE CORRECT ANSWER FOR THIS ONE: D. 383.50

HIS RENTERS INSURANCE PREMIUM WOULD GO UP BY 18%. HIS NEW ANNUAL RENTER'S INSURANCE PREMIUM IS NOW 
$383.50