Camila has renters insurance that covers $⁢20,000 of personal property with a premium of $⁢15 per month and a $⁢500 deductible. Assuming there are no claims, what is the annual cost of her insurance policy?

With no claims, Camila pays only the insurance premiums; the $500 deductible does not affect the cost. Her annual premium is $15 × 12 months = $180, so the annual cost is 180 dollars.

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