Question

4. Jill wants to buy $70,000 worth of insurance for her new house. If therate is $8.00 per $1000 of value, what will her insurance premium be?a. $590b. $560C. $530

Answer 1

Let's calculate the insurance premium Jill will have to pay for her insurance of her new home:

Insurance premium = 70,000 / 1,000 * 8

Insurance premium = 70 * 8

Now you can calculate easily the payment Jill will have to afford.