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Author Question: Drivers Miller and Taylor live in a state having no-fault auto insurance. Taylor causes an accident ... (Read 161 times)

charchew

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on: Jun 24, 2018
Drivers Miller and Taylor live in a state having no-fault auto insurance. Taylor causes an accident by hitting Miller's bike. Taylor is not hurt. Miller spends five days in the hospital at a cost of 6,400 . Compute the amount each driver's insurance company pays toward medical expenses.

Question 2

For the next two years, Walter and Beatrice Winetrout want to send 500 per month to their daughter in college. To make these payments, compute the amount that the Winetrouts should deposit today into an investment that will return 12 compounded monthly. Use Tables 23-2A and 23-2B or a calculator.


kkenney

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

Miller's company: 6,400 . Taylor's company: 0

Answer to Question 2

500  21.24339 = 10,621.70 deposit today


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