Question

Dan wants to insure his property worth $41,650. If the premium is 1/8% of the value of the property, what is the
premium that Dan has to pay?​

Answer 1

Answer:

Step-by-step explanation:

firs you have to do 1/8 of 41,650= 5206.25

then 1/8 - 1 = 7/8

7/8 of 41650=36443.75.

Answer 2

Given:

Value of property = $41,650

Premium = 1/8 % of value of property

To Find:

Premium to pay

Solution:

A/Q, the premium is 1/8% of the value of the property

1/8 = 0.125

now, 0.125 % of 41,650 = $\frac{41650 * 0.125}{100}$ = 52.0625

So, Dan has to pay $52 to pay the premium.