To find Sheila's monthly property insurance premium, we'll follow these steps:
1. Identify the annual premium rates for Sheila's house and contents:
- Sheila's house is a brick home located in a rural area.
- According to the table, the annual premium rate for a brick building in a rural area is [tex]\(0.6\%\)[/tex].
- The annual premium rate for contents in a brick building in a rural area is [tex]\(0.69\%\)[/tex].
2. Calculate the annual premium for the building:
- The value of the house is \[tex]$95,000.
- Premium rate for the building = \(0.6\% = \frac{0.6}{100}\)
- Annual premium for the building = House value \(\times\) Premium rate for the building
\[
95,000 \times \frac{0.6}{100} = 570
\]
3. Calculate the annual premium for the contents:
- The value of the contents is \$[/tex]15,000.
- Premium rate for the contents = [tex]\(0.69\% = \frac{0.69}{100}\)[/tex]
- Annual premium for the contents = Contents value [tex]\(\times\)[/tex] Premium rate for the contents
[tex]\[
15,000 \times \frac{0.69}{100} = 103.5
\][/tex]
4. Calculate the total annual premium:
- Total annual premium = Annual premium for the building + Annual premium for the contents
[tex]\[
570 + 103.5 = 673.5
\][/tex]
5. Calculate the monthly premium:
- Monthly premium = Total annual premium [tex]\(\div\)[/tex] 12
[tex]\[
673.5 \div 12 = 56.125
\][/tex]
Thus, Sheila's monthly property insurance premium is approximately [tex]$\$[/tex] 56.13$, which corresponds to option C.
