Davis Insurance Company insured Driver Ashley's two cars at annual premiums of 3,400 for car A and 2,440 for car B. Ashley sold both cars after six months and canceled the insurance. The insurance company refunded the remaining six months' premiums at the short rate based on a 15 penalty. Compute the amount of the total refund.
Question 2
Harrington Insurance Company insures four moving vans for National Moving Company. Annual premiums for the four trucks are: Truck A = 3,480; Truck B = 3,360; Truck C = 2,640; and Truck D = 4,100 . Harrington Insurance Company charges a short-rate penalty of 15. At the end of the second month, National Moving Company sold trucks A and B and canceled their insurance. At the end of the fourth month, National Moving Company sold truck C and canceled its insurance. Compute the amount National Moving Company paid Harrington Insurance Company for insurance during the year.
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Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he ...