Question

Ruth has decided to drop her collision insurance because her car is getting old. Her total annual premium is $916, of which $170.60 covers collision insurance. What will her quarterly payments be after she drops the collision coverage?

Answer 1

Ruth's quarterly payments after the collision coverage is dropped is going to be $186.35.

First find out the annual cost of insurance after the collision insurance is dropped:

= Annual premium - Collision insurance

= 916 - 170.60

= $745.40

The quarterly payments become:

= 745.50 / 4 quarters a year

= $186.35

In conclusion, Ruth will pay $186.35 per quarter.

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