Question

Patrick is a 19 year old with $780 annual base premium. What does his policy cost if his rating factor is 3.00?

Answer 1

Answer: $2340

Step-by-step explanation:

Given that:

The annual base premium of Patrick is $780 and

Patrick's rating factor is 3.00.

Note that the rating factor refers to the factor that we can use to determine the premium, therefore we have to multiply the annual base premium by the rating factor to get his policy cost.

= $780 × 3.00

= $2340