Gertrude has a life insurance policy that will pay her family $97,000 per year if she dies. If interest rates are at 1.4% when the insurance company has to pay, what is the amount of the lump sum that the insurance company must put into a bank account?

the answer is $98,058

3/4 ÷ 3/4

step-by-step explanation:

basically divide any proper fraction with itself to fit the criteria.

so if we are using 3/4, then:

3/4 ÷ 3/4 = 1

so 1 is the quotient.

and the numerators for both these fractions is 3.   and if we divide the numerators:

3 ÷ 3 = 1

we see that quotient is equal to our original quotient as well.