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Author Question: Leonard uses Excel to track life insurance coverage and cost for his clients. Column B contains the ... (Read 93 times)

KimWrice

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on: Jun 24, 2018
Leonard uses Excel to track life insurance coverage and cost for his clients. Column B contains the amount of coverage, and Column C contains the cost per thousand. What is the formula that he should key in Cell D9 to calculate the annual premium and in Cell E9 for the monthly premium?

Question 2

Reliable Car Rental purchases an 80 property coinsurance policy on their building, valued at 330,000. The company insures the business for 80 of the value. If there is a fire at Reliable which causes 300,000 worth of damage, how much will the insurance pay and how much will Reliable pay?


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Rilsmarie951

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

=B9/1000C9; =D9/12

Answer to Question 2

264,000; 36,000
330,000  0.80 = 264,000
300,000 > 264,000 so 300,000 - 264,000 = 36,000


KimWrice

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

bdobbins

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Reply 3 on: Yesterday
Wow, this really help

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