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

Answer 1

Cost per $100 = 972.80 ÷ (253000/100) = 972.80 ÷ 2530 ≈ 0.3846 ≈ $0.38.

Answer: d.