To find Jerome's approximate six-month premium using the formula \( P = DB \), where \( D \) is the driver risk factor and \( B \) is the basic six-month premium:
Given:
- \( D = 1.02 \)
- \( B = 500 \)
First, calculate \( P \):
\[ P = DB = 1.02 \times 500 = 510 \]
Jerome's six-month premium is $510. To find the monthly premium, divide the six-month premium by 6:
\[ \text{Monthly Premium} = \frac{P}{6} = \frac{510}{6} = 85 \]
Thus, Jerome's monthly premium is $85.00.