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Author Question: Safeco Insurance Company insured Driver Fitzwater at an annual premium of 3,300 . After one month, ... (Read 64 times)

LaDunn

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on: Jun 24, 2018
Safeco Insurance Company insured Driver Fitzwater at an annual premium of 3,300 . After one month, Fitzwater sold the car and canceled the insurance. Safeco Insurance Company refunded the remaining 11 months' premium at the short rate based on a 15 penalty. Compute the amount that the one month of insurance cost Fitzwater.

Question 2

4,00 . (present value) is deposited today at 9 compounded monthly. Compute the monthly payment that can be withdrawn each month for 2 years and empty the account. Use Tables 23-2A and 23-2B or a calculator.


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dpost18

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Reply #1 on: Jun 24, 2018
Answer to Question 1

770

Answer to Question 2

4,00 .  21.88915 = 182.74 monthly payments


LaDunn

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

mjenn52

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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