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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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jafransp

Answer:

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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