1. LouisePonceandherfamilyownavacationhomeonLakeMichigan.Itisinsuredfor 80 percentof its $150,000.00 replacement value. The home has a wood-frame construction and has been rated fire protection class 10. What is their annual insurancepremium?

Use the following chart to answer this question:

Homeowners Insurance Premiums Annual Premiums for a Typical Homeowners Policy Fire Protection Clare Amount of Brick /Memory Weiner Wood Frame Covenge 11 7.4 140.OOO $170 1215 1237 1270 $183 1237 1248 1244 $50.000 1173 1290 $190 $195 1245 $304 MO.COO $196 $259 $273 $313 $273 $328 $70.010 $213 $216 $745 4799 $231 1:299 $315 $160 140.010 1241 $328 1343 $257 $100 000 $307 $407 1426 $490 $320 $329 1424 $449 $12 2090 1354 $508 $391 $501 I TOOO $735 $200 000 $841 $1.017 1430 $931 4754 $941 $1.021 $1.147 $740 11.031 $1.036 $1.243 130 7000 $901 $1, 147 $1, 293 $400 000 $1,021 $1.617 $1.105 $0, 504 $500.090 $1. 309 $1.340 $1.707 $1.812 12.074 $1.335 $1.812 $1.929