Question

james harmon pays 850.80 per year for his life insurance. if he where to the premiums quarterly, the payments would would be 221.21 what percentage more is mr hamrmon paying for the year using yhe quarterly rate

Answer 1

Percent is given by the expression:

`\begin{gathered} \text{Total}\cdot\frac{\text{percent}}{100}=\text{Equivalent number to the percent} \\ 850.8\cdot(x)/(100)=221.21 \\ x=(221.21\cdot100)/(850.8) \\ x=26\text{ percent} \end{gathered}`

So, he is paying 74% more using the quarterly rate