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.$58.50b.$31.96c.$268.96d.$383.50

Answer 1

The correct answer for this question is this one: "d.$383.50"

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%. His new annual renter’s insurance premium is $383.50
Hope this helps answer your question and have a nice day ahead.

Answer 2

The correct answer is:

D) $383.50.

Explanation:

Since the premium increased by 18%, that means Jordy will be paying 100% of what he paid before plus another 18%; 100%+18% = 118%.

To find 118% of $325, first we convert the percent to a decimal. 118% = 118/100 = 1.18.

Next we multiply: 1.18(325) = $383.50.