After being involved in a car accident last month, Ralph’s insurance company has increased his annual premium by $105.38. Approximately what change will Ralph see on his future monthly statements as a result of the change?
Ralph’s monthly insurance payment will not change.
Ralph’s monthly insurance payment will increase by $8.78.
Ralph’s monthly insurance payment will increase by $17.56.
Ralph’s monthly insurance payment will increase $105.38.
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If the insurance goes up $105.38 in 1 year, how much does it cost extra per month?
I dont know thats why im here to get help
Let's say you buy a radio for $120, and you can pay it over 12 months.
You will make 12 equal payments for the radio.
How much would each monthly payment be?
You divide $120/12 = $10. You'd pay $10 per month for 12 months.
Since $10 * 12 = $120, you pay the entire cost of the radio in the 12 months.
In your problem, the person already has car insurance and is paying a certain amount per month. We were not told how much he pays per month, it we don't need to know it.
The insurance went up by $105.38 in one full year.
He has to pay an extra $105.38 in one year.
$105.38 in a year is how much per month?
Just like with the radio, you divide $120/12,
here you divide $105.38/12.
What is $105.38/12 ?
Right. Since his insurance went up $105.38 per year, his monthly payment will go up $8.78 per month.
Now choose the correct choice from the given answers.