Pregunta
Part 2: Calculations
Scenario 1: Homeowners Insurance
John owns a house valued at
. His insurance policy costs
per
of coverage annually
and also includes a liability coverage fee of
per year.
- Calculate the cost of the insurance for the structure of the house.
o Formula: Cost
(Value of the house
Cost per
- Add the liability coverage fee to determine the total annual premium.
o Total Cost
Cost for house + Liability fee
Scenario 1: Homeowners Insurance
John owns a house valued at
and also includes a liability coverage fee of
o Formula: Cost
o Total Cost
Ask by Wade Watson. in the United States
Jan 24,2025
Solución de inteligencia artificial de Upstudy
Respuesta verificada por el tutor
Responder
- Cost of insurance for the house structure: $4,386
- Total annual premium (including liability fee): $4,536
Solución

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Como
Extra Insights
To calculate the cost of the insurance for the structure of John’s house, we first determine the cost for the coverage based on the given formula:
Cost for house insurance = dollars. This means it will cost John approximately $3,966 to insure the structure of his home each year.
Cost for house insurance =
Now, let’s add the liability coverage fee to find the total annual premium:
Total Cost = Cost for house + Liability fee = dollars. Therefore, John’s total annual premium would be approximately $4,116 for both the structure coverage and liability protection. How’s that for peace of mind?
Total Cost = Cost for house + Liability fee =

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