Question

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

Answer 1

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