zazabr3ath
Answered

Westonci.ca is the premier destination for reliable answers to your questions, provided by a community of experts. Our platform offers a seamless experience for finding reliable answers from a network of knowledgeable professionals. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

Joshua rents an apartment in an all-brick building in the city. The value of the belongings in the apartment is about [tex]$\$ 25,000$[/tex]. If Joshua wants to insure his belongings while renting, how much will he have to pay for insurance per year?

\begin{tabular}{|c|c|c|c|c|c|c|c|c|}
\hline
\multicolumn{9}{|c|}{ Annual Premium per [tex]$\[tex]$ 100$[/tex][/tex] of coverage } \\
\hline
\multirow[b]{2}{*}{\begin{tabular}{l}
Area \\
rating
\end{tabular}} & \multicolumn{2}{|l|}{ Brick } & \multicolumn{2}{|l|}{ Steel } & \multicolumn{2}{|l|}{ Mixed } & \multicolumn{2}{|l|}{ Wood } \\
\hline & Building & Contents & Building & Contents & Building & Contents & Building & Contents \\
\hline
City & 0.39 & 0.43 & 0.5 & 0.54 & 0.55 & 0.65 & 0.66 & 0.76 \\
\hline
Suburb & 0.45 & 0.52 & 0.56 & 0.63 & 0.72 & 0.74 & 0.83 & 0.85 \\
\hline
Rural & 0.6 & 0.69 & 0.71 & 0.8 & 0.89 & 0.91 & 1 & 1.02 \\
\hline
\end{tabular}

A. [tex]$\$ 150.00$[/tex]

B. [tex]$\[tex]$ 178.65$[/tex][/tex]

C. [tex]$\$ 173.50$[/tex]

D. [tex]$\[tex]$ 107.50$[/tex][/tex]

Sagot :

GinnyAnswer
To determine how much Joshua has to pay for insurance per year, we'll follow a step-by-step process based on the details provided:

1. Identify key details:
- The value of Joshua's belongings: \[tex]$25,000. - The premium rate for insuring the contents in an all-brick building in the city: \$[/tex]0.43 per \[tex]$100 of coverage. 2. Calculate the total premium: - First, determine how many units of \$[/tex]100 are there in the total value of the belongings. Since his belongings are worth \[tex]$25,000, this means: \[ \frac{25000}{100} = 250 \text{ units of } \$[/tex]100
\]

- Next, multiply the number of \[tex]$100 units by the annual premium rate per \$[/tex]100:
[tex]\[ \text{Insurance Cost} = 250 \times 0.43 = \$107.50 \][/tex]

3. Compare with the given options:
- Option A: \[tex]$150.00 - Option B: \$[/tex]178.65
- Option C: \[tex]$173.50 - Option D: \$[/tex]107.50

4. Conclusion:
The calculated insurance cost is \[tex]$107.50, which matches option D. Therefore, Joshua will have to pay \$[/tex]107.50 for insurance per year.
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.