There is $74 Michael deposit from each paycheck if the payback os bi-weekly, the correct option is B.
The insurer and the insured get a legal contract for the insurance, which is called the insurance policy.
Given
Car insurance premium in a first half year = $958
Car insurance premium in the second half year = $958
Total Car insurance premium in year = 2 × $958 = $ 1916
Nature of paid premium is bi-weekly = in 2 weeks
There are total 52 weeks in a year.
The total number of bi-week = 26
Total deposited amount per bi-weekly is;
= $ 1916 ÷ 26 =$ 73.69 ≈ $ 74
Hence, there is $74 Michael deposit from each paycheck if the payback os bi-weekly.
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