insurance policy of $90,000. at a cost of $0.58 per $100. eight month later his insurance company cancel the policy, what did gideon have to pay for the 8 month coverage?

insurance policy of $90,000. at a cost of $0.58 per $100. eight month later his insurance company cancel the policy, what did gideon have to pay for the 8 month coverage?
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1 Answer

Cost of insurance is 90000×0.58/100=$522. 

It’s not stated in the question whether $0.58 in $100 is a monthly payment, but let us assume it is.

So 8 months cost Gideon 8×522=$4176.

 

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