Author Question: An insured carries all three classifications of insurance, with a deductible of 500 for collision. ... (Read 193 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
An insured carries all three classifications of insurance, with a deductible of 500 for collision. The insured paid an annual premium of 1,720 . The insured backed into a car in a parking lot, causing 580 damage to the car of the insured and 1,770 damage to the other car. Compute the amount that the insurance company made from the insured this year.

Question 2

15,00 . (present value) is borrowed today at 12 compounded quarterly. The loan will be amortized over 4 years with equal quarterly payments. Compute the quarterly payments that are required to exactly pay off the loan. Use Tables 23-2A and 23-2B or a calculator.



DylanD1323

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

0

Answer to Question 2

15,00 .  12.56110 = 1,194.16 quarterly payments



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

About 3.2 billion people, nearly half the world population, are at risk for malaria. In 2015, there are about 214 million malaria cases and an estimated 438,000 malaria deaths.

Did you know?

Though “Krazy Glue” or “Super Glue” has the ability to seal small wounds, it is not recommended for this purpose since it contains many substances that should not enter the body through the skin, and may be harmful.

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

For a complete list of videos, visit our video library