You are buying $605,000 of insurance and are told it will cost $0.391 for each $1000 of insurance monthly. What will your monthly payment be?

Question

 Checking on converting a work policy to personal policy

Answer 1

A $605,000 insurance policy includes 605 chunks of $1000. So, if each of the 605 chunks costs $0.391 per month, the monthly payment will be 605(0.391) = $236.56.