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Author Question: Universal Insurance Company does business in a state having no-fault insurance. An insured carries ... (Read 190 times)

jc611

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on: Jun 24, 2018
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.


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SAUXC

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

1,210

Answer to Question 2

6,00 .  9.38507 = 56,310.42 present value


jc611

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

ricroger

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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