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7 January, 01:14

Jerome uses the formula, P = 2DB, to find his approximate six-month premium when his driver risk factor, D, is 1.02 and the basic six-month premium is $500. What will his monthly premium be?

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  1. 7 January, 01:31
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    Approximate one-month premium = $170

    Explanation:

    To find his approximate six-month premium, Jerome uses P = 2DB.

    Given,

    D = Driver risk factor = 1.02

    B = basic six-month premium = $500

    We have to find out P = approximate six-month premium.

    Putting the values into the formula we can get,

    Approximate six-month premium = 2DB

    Approximate six-month premium = 2 * 1.02 * $500

    Approximate six-month premium = $1,020

    Approximate one-month premium = $1,020 : 6

    Approximate one-month premium = $170
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