Solve the Problem

question 36

Multiple Choice

Solve the problem. Use the fire insurance rate table if needed. Rates are for each $100 of insurance. Round to the nearest dollar.
-SLM Instruments owns a class B building with a replacement cost of $602,000. Contents are valued at $302,000. The area is rated 3. Find the fire insurance annual premium.

• A)$506
• B)$4,370
• C)$5,063
• D)$5,243

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