Author Question: You charged 1,000 on your credit card for Christmas presents. Your credit card company charges you ... (Read 138 times)

lak · **on:** Jul 11, 2018

You charged 1,000 on your credit card for Christmas presents. Your credit card company charges
you 26 annual interest, compounded monthly.

If you make the minimum payments of 25 per
month, how long will it take (to the nearest month) to pay off your balance?
A) 54 months B) 40 months C) 94 months D) 79 months

Question 2

Andrea purchased an auto insurance policy with bodily injury liability limits of 250/500 (250,000/500,000). She also purchased a personal umbrella policy with a 1 million limit and a 500 self-insured retention.

Andrea was talking on her cell phone while driving, and her car struck and killed a pedestrian in a crosswalk. The court ordered her to pay 750,000 to the spouse of the person she killed. How will this claim be settled?
A) The umbrella policy will pay 749,500.
B) Each policy will pay 375,000.
C) 250,000 will be paid under the auto policy and 500,000 will be paid by the umbrella policy.
D) The auto policy will pay 250,000, Andrea will pay 500, and the umbrella policy will pay 499,500.

Dominic · **Reply #1 on:** Jul 11, 2018

A FREE account is required to view all solutions!

Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.

Answer Preview

Only 55% of students answer this correctly