Question

A property insurance policy is issued at a total cost of $2,540 for 6 months. If the insurance company offers a one-time $50 rebate, what is the cost per month?

Answer 1

The cost per month after the $50 rebate is $415.

Step-by-step explanation:

To find the cost per month after the $50 rebate, we first need to find the cost for 6 months without the rebate.

The total cost of the policy is $2,540, so the cost for 6 months is $2,540. To find the cost per month, divide the total cost by the number of months: $2,540 / 6 months = $423.33 per month.

Now, subtract the $50 rebate from the total cost: $2,540 - $50 = $2,490.

The new total cost is $2,490. To find the new cost per month, divide the new total cost by the number of months: $2,490 / 6 months = $415 per month.