Home Insurance costs an average of 0.4% of the purchase price of your home and must be purchased every year. If you home costs $290,000.00, how much is the annual Home Insurance…

Question

asked Sep 22, 2024 87.3k views

1 Answer

Jian Guo · Answer 1 · 2024-09-27T03:23:26+0000

Answer:

Cost of the house = $290,000.00

Insurance cost = 0.4%

Annual Home Insurance Bill = (290,000 X 0.4)/100

= 116,000 ÷ 100

= 1,160