Question

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

How much does Robbie pay in twelve months?
$

How much more does Robbie pay?
$

What percentage does Robbie pay (to the nearest percent)?
%

Answer 1

Robbie pay in twelve months $1080 .

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

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 = (Robbies\ pay\ more* 100)/(annual\ premium)`

Robbies pay more = $92.47

Annual premium = $987.53

Put in the above

`Percentage = (92.47* 100)/(987.53)`

`Percentage = (9247)/(987.53)`

Percentage = 9.36 % (Approx)

9.36 %(Approx) Robbie pay.