Answer:
Current insurance cost = [tex]685.43[/tex] $
Step-by-step explanation:
Given
- Original Payment = £714.73
- Reduced Percentage = 4.1%
Reduced Amount = [tex]4.1\%\:\times\:714.73[/tex]
[tex]=\left(\frac{4.1}{100}\right)\left(714.73\right)[/tex]
[tex]=\frac{41\times \:714.73}{1000}[/tex]
[tex]=29.30[/tex] $
Current Insurance cost = [tex]714.73 - 29.30[/tex]
= [tex]685.43[/tex] $
Thus,
Current insurance cost = [tex]685.43[/tex] $
