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a recently renovated catering facility has opened in your town. the property, for insurance purposes, is valued at $1,023,000 and rate is 0.126 per hundred, what is the cost to the owners for this coverage?

Respuesta :

Answer: $1,288.98

Explanation: The cost of the Insurance is calculated at a cost per $100 of value. The first step is to calculate how many 100s are in the value of the property. This is done by dividing 1,023,000 by 100 = 10,230. Next, you need to multiply 10,230 by the rate of .126, which equals $1,288.98, the cost of the cost.

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