Rudy has been paying an annual homeowners insurance premium of $1,106.30 ($0.37 per $100 of value) since he first purchased his house. For the past six months, Rudy has completed some major improvements to his house to improve its overall value. If Rudy successfully adds $50,000 to the value of his house, what will his new annual homeowners insurance premium be?

Question

Mathematics

Ellis Savage

12 December, 07:14

Rudy has been paying an annual homeowners insurance premium of $1,106.30 ($0.37 per $100 of value) since he first purchased his house. For the past six months, Rudy has completed some major improvements to his house to improve its overall value. If Rudy successfully adds $50,000 to the value of his house, what will his new annual homeowners insurance premium be?

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Cason Benton · Answer 1

Well first do 50,000/1,106.30 which is now $45.20 per $100 value), so the premium will be 50,000/100 which is 500 them times that by $0.37 which would now be 185 and going around again and going back to 1,106.30 and timesing that by 185, so your answer would be the premium of $204,665.50