Question

The cost of insurance for your car is 23% of the cost of your new car. The new car costs $20,000. What's the cost of your insurance for the first year?

$460

$920

$230

Answer 1

To calculate the cost of insurance for a new car, multiply the cost of the car by the insurance rate as a decimal. For a $20,000 car at a 23% rate, the first year insurance cost is $4,600.

Step-by-step explanation:

The cost of insurance for a new car that costs $20,000, which is 23% of the car's cost, can be calculated as follows:

1. First, convert the percentage to a decimal by dividing by 100, resulting in 0.23.
2. Multiply the car's cost by this decimal: $20,000 * 0.23 = $4,600.

Therefore, the cost of insurance for the first year is $4,600.

Answer 2

$460

Step-by-step explanation:

Because if you put 23% over 100 and multiply it by 20,000 you should get that