Question

the property in Norman has rented for 21 months was broken into in the cost to replace the stolen items was, $1,354.00. what percent would Mormon have saved if he had a renter's insurance policy at a monthly cost of $21.00? round to the nearest tenth. 32.6%51.5% 67.4%88.5%

Answer 1

67.4%

Explanation:

To know how much could be saved, we must calculate the amount that would have been spent in the 21 months paying the $ 21, like this:

`21\cdot21=441`

We calculate what this value represents with the expense value, like this:

`(441)/(1354)=0.326`

The value saved would be 1 minus the value that represents the payment of the policy for 21 months:

`1-0.326=0.674\rightarrow67.4\text{\%}`

The savings percentage is 67.4%