Question

you buy a new insurance plan for your car that has a monthly premium of 113.as a benefit of the plan each year without a ticket will drop your current premium of 4% if you dont get aq ticket for 19 years, what will your premium cost each month

Answer 1

Each year, the premium is multiplied by (1 - 0.04) = 0.96. After 19 years, the premium will be the original value multiplied by 0.96^19.
113.00*0.96^19 ≈ 52.03

Your premium is expected to be $52.03 each month.