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Answer :
Final answer:
To calculate the annual premium after a 20% discount by increasing the deductible, use the formula: Annual Premium = (Original Premium - (20% of Original Premium)) + $200. The answer is $2400.
Explanation:
To calculate the annual premium after a 20% discount is applied by increasing the deductible to $200, we can use the formula:
Annual Premium = (Original Premium - (20% of Original Premium)) + $200
Let's assume the original premium is $X. After substituting the values, the equation becomes:
Annual Premium = ($X - (0.2 * $X)) + $200
Simplifying further:
Annual Premium = (0.8 * $X) + $200
Therefore, the answer would be option b) $2400.
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