A homeowner purchases a property for $⁢480,000 and the home insurance rate is 0.25% What is the monthly premium for this home insurance policy?

First calculate the annual premium: $480,000 × 0.25% = $480,000 × 0.0025 = $1,200. Divide by 12 months to find the monthly premium: $1,200 ÷ 12 = $100. The monthly premium is 100 dollars, choice C.

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