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Michelle just purchased a homeowner's insurance policy for her new home that costs $0.37 per 5100. Her home is worth $418,700. What is Michelle's annual homeowner'…

Michelle just purchased a homeowner's insurance policy for her new home that costs $0.37 per 5100. Her home is worth $418,700. What is Michelle's annual homeowner'…
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Michelle just purchased a homeowner's insurance policy for her new home that costs $0.37 per 5100. Her home is

worth $418,700. What is Michelle's annual homeowner's insurance premium? Show work

asked
User DDM
by
8.5k points

1 Answer

1 vote
Based on your other question, I’m going to assume this is 0.37 per $100, not 5,100.

418,700/100 = 4187 (how many groups of $100 the house is worth)
4187 x 0.37 = $1549.19 is her insurance premium
answered
User Arsman Ahmad
by
8.3k points
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