Question

Robbie Morse has a $47,500 insurance policy. The annual premium is $987.53. Robbie pays $90.00 monthly.

Answer 1

Answer:

Robbie pay in twelve months $1080 .

$92.47 more Robbie pay and 9.36 %(Approx) Robbie pay.

Step-by-step explanation:

As given

Robbie Morse has a $47,500 insurance policy.

The annual premium is $987.53.

Robbie pays $90.00 monthly.

First find out the Robbie pay in twelve months .

Robbie pay in twelve months = 12 × 90

                                                  = $ 1080

Second find out how much more does Robbie pay .

Robbie pay extra = Robbie pay in twelve months -  annual premium

                             = $ 1080 - $987.53

                             = $92.47

Therefore the $92.47 more Robbie pay .

Third find out the what percentage does Robbie pay .

 Formula

$Percentage = \frac{Robbies\ pay\ more\times 100}{annual\ premium}$

Robbies pay more = $92.47

Annual premium = $987.53

Put in the above

$Percentage = \frac{92.47\times 100}{987.53}$

$Percentage = \frac{9247}{987.53}$

Percentage = 9.36 % (Approx)

9.36 %(Approx) Robbie pay.