rachel just purchased a homeowners insurance policy for her new home that costs $0.43 per $100. her home is…

rachel just purchased a homeowners insurance policy for her new home that costs $0.43 per $100. her home is worth $387,500. what is rachels annual homeowners insurance premium?\na. $1,666.25\nb. $2,208.75\nc. $8,802.33\nd. $9,011.63\nplease select the best answer from the choices provided\na\nb\nc\nd

rachel just purchased a homeowners insurance policy for her new home that costs $0.43 per $100. her home is worth $387,500. what is rachels annual homeowners insurance premium?\na. $1,666.25\nb. $2,208.75\nc. $8,802.33\nd. $9,011.63\nplease select the best answer from the choices provided\na\nb\nc\nd

Answer

Explanation:

Step1: Find number of $100 - units$

Divide home - worth by 100. $\frac{387500}{100}=3875$

Step2: Calculate premium

Multiply number of $100 - units$ by cost per $100$. $3875\times0.43 = 1666.25$

Answer:

A. $1,666.25$