The home to be insured had a value of $313,500. It was only insured for 85% of its value, and the cost for insurance was .65 per $100 of value for a three- year policy. How much was the premium for one year?

a) $577.36
b) $625.00
c) $533.42
d) $638.50

Answer: a) $577.36

Business

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Which one of the following items appears on a balance sheet?

a. Accounts payable b. Sales revenue c. Utilities expense d. Cost of goods sold

Business