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Business, 25.11.2021 14:00 Ashley606hernandez

Stephanie has a homeowners insurance policy for her $355,000 home with an annual premium of $0. 42 per $100 of value and a deductible of $500. Under this policy, in the event of a major mishap, Stephanie would have a total annual out-of-pocket expense of Left-bracket (355,000 dollars divided by 100) times 42 cents right-bracket 500 dollars = 1,991 dollars. Stephanie would like to lower her premium by increasing her deductible. If Stephanie wants to increase her deductible to $1000, what annual premium would result in an annual out-of-pocket expense that is about the same as her current plan? a. $0. 16 per $100 of value b. $0. 28 per $100 of value c. $0. 35 per $100 of value d. $0. 46 per $100 of value.

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Stephanie has a homeowners insurance policy for her $355,000 home with an annual premium of $0. 42 p...
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