Question

Cesar’s annual homeowners insurance premium is $972.80. if his home is valued at $253,000, roughly how much is cesar paying for homeowners insurance? a. $0.13 per $100 of value b. $0.19 per $100 of value c. $0.26 per $100 of value d. $0.38 per $100 of value please select the best answer from the choices provided a b c d

Answer 1

If his home is valued at $253,000, roughly the amount that  cesar paying for homeowners insurance is: $0.38 per $100 of value.

Homeowners insurance

Using this formula

Homeowners insurance=Insurance premium/Total value×$100

Let plug in the formula

Homeowners insurance= $972.80/$253,000×$100

Homeowners insurance=$0.38

Therefore  the amount that  cesar paying for homeowners insurance is: $0.38 per $100 of value.

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