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Best Insurance Co. bases its premiums for home insurance on a rate of $.38 per $100 of coverage. To encourage customers to insure their homes for a longer time period, the company offers the following term rates. Premiums are rounded up to the nearest dollar. Period: 2 years; Term Rate: 1.85 times annual rate | Period 3 years; Term Rate: 2.7 times annual rate | Period: 4 years; Term Rate: 3.55 times annual rate | What is the premium on a two-year term rate policy on a home insured for $68,500?

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Best Insurance Co. bases its premiums for home insurance on a rate of $.38 per $100 of coverage. To encourage customers to insure their homes for a longer time period, the company offers the following term rates. Premiums are rounded up to the nearest dollar. Period: 2 years; Term Rate: 1.85 times annual rate | Period 3 years; Term Rate: 2.7 times annual rate | Period: 4 years; Term Rate: 3.55 times annual rate | What is the premium on a two-year term rate policy on a home insured for $68,500?






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