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2 of 3 Jerome uses the formula, P = DB, to find his approximate sixmonth premium when his driver risk factor, D, is 1.02 and th...Question
Jerome uses the formula, P = DB, to find his approximate six-month premium when his driver risk
factor, D, is 1.02 and the basic six-month premium is $500.
What will his monthly premium be?
(1 point)
$85.00
$270.60
$300.50
$332.00
factor, D, is 1.02 and the basic six-month premium is $500.
What will his monthly premium be?
(1 point)
$85.00
$270.60
$300.50
$332.00
Answers
GPT-4o mini
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, we can substitute the given values into the formula.
Given:
- \( D = 1.02 \)
- \( B = 500 \)
Now, calculate \( P \):
\[
P = DB = 1.02 \times 500 = 510
\]
The six-month premium is $510.
To find the monthly premium, we divide the six-month premium by 6:
\[
\text{Monthly Premium} = \frac{510}{6} = 85
\]
Thus, the monthly premium will be **$85.00**.
Given:
- \( D = 1.02 \)
- \( B = 500 \)
Now, calculate \( P \):
\[
P = DB = 1.02 \times 500 = 510
\]
The six-month premium is $510.
To find the monthly premium, we divide the six-month premium by 6:
\[
\text{Monthly Premium} = \frac{510}{6} = 85
\]
Thus, the monthly premium will be **$85.00**.