Question

Gloria pays her insurance in three installments each year. The first payment is 40% of the annual premium, and each of the next two payments is 30% of annual premium. If the annual premium is $924. Find the amounts of the three payments

Answer 1

Answer:

Amounts of first payment =  $369.60

Amounts of Second and third payment =  $277.20

Step-by-step explanation:

Given:

Annual premium = $924

First payment = 40%

Second payment = 30%

Third payment = 30%

Find:

Amounts of three payments

Computation:

Amounts of first payment = $924 x 40%

Amounts of first payment =  $369.60

Amounts of Second payment = $924 x 30%

Amounts of Second payment =  $277.20

Amounts of third payment = $924 x 30%

Amounts of third payment =  $277.20