Sue purchased a 27,000 life insurance policy at the price of $36 per $1000 of coverage. If she pays the premium in 12 monthly installments, how much is each installment?

Sue's total premium can be calculated using the following steps:

1. **Determine the total premium**:
   The life insurance policy is for $27,000, and the cost is $36 per $1,000 of coverage.
   So, the total premium is:

   \[
   \text{Total Premium} = \left(\frac{27,000}{1,000}\right) \times 36 = 27 \times 36 = 972 \, \text{dollars}
   \]

2. **Divide the total premium by 12 monthly installments**:
   Since Sue pays in 12 monthly installments, each installment is:

   \[
   \text{Installment} = \frac{972}{12} = 81 \, \text{dollars}
   \]

So, each installment is **$81**.

Would you like more details or have any questions?

Here are 5 related questions:
1. How much would Sue pay annually if the coverage was for $50,000?
2. If the premium increased to $40 per $1,000, how would that affect the monthly installment?
3. What would Sue's monthly payment be if she opted for a policy of $15,000 at the same rate?
4. How much would she pay for a 10-year term at the same rate of $36 per $1,000?
5. How much would Sue save annually if she paid the full amount upfront instead of monthly?

**Tip:** Always check for discounts when paying insurance premiums in full upfront, as some companies offer savings over monthly installment plans.

Sue purchased a $27,000 life insurance policy at the price of $36 per $1,000 of coverage. If she pays the premium in 12 monthly installments, how much is each installment?

Learn how to calculate the monthly installment for a $27,000 life insurance policy with a premium rate of $36 per $1,000 of coverage. This step-by-step guide uses multiplication and division to find that each monthly installment is $81. Suitable for students in Grades 6-8 and anyone interested in insurance premium calculations.

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