Universal Insurance Company does business in a state having ...

[jc611]

Universal Insurance Company does business in a state having no-fault insurance. An insured carries all three classifications of insurance, with a 500 deductible for collision. The insured paid an annual premium of 2,790 . The insured fell asleep at the wheel and had medical expenses for himself of 1,280 and auto repair expenses of 800 . Compute the amount that Universal Insurance Company premium was over the amount the insurance company paid in benefits.

Question 2

Compute the present value of 12 semiannual payments of 6,00 . each if interest is 8 compounded semiannually. Use Tables 23-2A and 23-2B or a calculator.

[SAUXC]

Answer to Question 1

1,210

Answer to Question 2

6,00 .  9.38507 = 56,310.42 present value

[jc611]

TYSM

[sarah_brady415]

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