The Carlisles insure their home for $190,000. The annual insurance premium is $5.95 per $1,000 of insurance. How much is the Carlisle's premium?

Question

Quizplus · Accepted Answer

First, we need to calculate how much the premium is for $1,000 of insurance:

$5.95 per $1,000

Next, we can use this rate to find the premium for the Carlisle's $190,000 insurance:

($5.95 per $1,000) x 190 = $1,130.50

Therefore, the Carlisle's premium is $1,130.50, which corresponds to choice B.

The Carlisles Insure Their Home for $190,000