Question
Sarah pays $48.00 each month to keep her house insured. If her house is valued at $223,050, about how much is Sarah paying per $100 in homeowners insurance annually?
a.
$0.13
b.
$0.26
c.
$1.55
d.
$3.09
a.
$0.13
b.
$0.26
c.
$1.55
d.
$3.09
Answers
GPT-4o mini
To determine how much Sarah is paying per $100 in homeowners insurance annually, we need to follow these steps:
1. First, calculate her annual insurance cost by multiplying her monthly payment by 12:
\[
48.00 \text{ per month} \times 12 \text{ months} = 576.00 \text{ annually}
\]
2. Next, determine how many hundreds of dollars are in the value of her home. Since her house is valued at $223,050, we divide this by 100:
\[
\frac{223,050}{100} = 2,230.50
\]
3. Now, divide the annual insurance cost by the number of hundreds of dollars in the home's value:
\[
\frac{576.00}{2,230.50} \approx 0.258
\]
4. To express this in the context of per $100, we find that she pays approximately $0.26 per $100.
Thus, the answer is:
**b. $0.26**
1. First, calculate her annual insurance cost by multiplying her monthly payment by 12:
\[
48.00 \text{ per month} \times 12 \text{ months} = 576.00 \text{ annually}
\]
2. Next, determine how many hundreds of dollars are in the value of her home. Since her house is valued at $223,050, we divide this by 100:
\[
\frac{223,050}{100} = 2,230.50
\]
3. Now, divide the annual insurance cost by the number of hundreds of dollars in the home's value:
\[
\frac{576.00}{2,230.50} \approx 0.258
\]
4. To express this in the context of per $100, we find that she pays approximately $0.26 per $100.
Thus, the answer is:
**b. $0.26**