This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Cameron Insurance Company insured Driver Gifford at an annual premium of 740 . After 6 months, ... (Read 195 times)

faduma

  • Hero Member
  • *****
  • Posts: 528
on: Jun 24, 2018
Cameron Insurance Company insured Driver Gifford at an annual premium of 740 . After 6 months, Gifford sold the car and canceled the insurance. Cameron Insurance Company refunded the remaining half of the premium at the short rate based on a penalty of 15. Compute the amount of the short-rate refund.

Question 2

A homeowner insured a house for 150,00 . for one year at a premium rate of 5.00 per thousand. The homeowner canceled the policy during the year. The insurance company has a penalty of 15 for short-rate refunds. Compute the amount of the penalty.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 24, 2018
Answer to Question 1

259

Answer to Question 2

112.5


faduma

  • Hero Member
  • *****
  • Posts: 528
Reply #2 on: Jun 24, 2018
Thank you


kingdude89

  • Sr. Member
  • ****
  • Posts: 336
Reply #3 on: Jun 24, 2018
No problemo


« previous next »
 

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Eating food that has been cooked with poppy seeds may cause you to fail a drug screening test, because the seeds contain enough opiate alkaloids to register as a positive.

Did you know?

The immune system needs 9.5 hours of sleep in total darkness to recharge completely.

The truck driver subculture, centering on their occupational activities and interests, is also ... The truck driver subculture, centering on their occupational activities and interests, is also ...
Placard near driver’s door, including what devices in the vehicle contain mercury. Placard near driver’s door, including what devices in the vehicle contain mercury.
How to avoid car insurance claims How to avoid car insurance claims
The annual pattern of rings changes with ocean temperature and coral health The annual pattern of rings changes with ocean temperature and coral health
Helgeson Company has identified the following items for possible inclusion when taking a ... Helgeson Company has identified the following items for possible inclusion when taking a ...
A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ... A debt payment of $7500 is due in 24 months. If money is worth 7.2% p.a. compounded quarterly, ...
Video: What is Cholesterols? Introduction to Lipoproteins

For a complete list of videos, visit our video library