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Author Question: Cameron Insurance Company insured Driver Gifford at an annual premium of 740 . After 6 months, ... (Read 310 times)

faduma

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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.


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kingdude89

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

259

Answer to Question 2

112.5


faduma

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Reply #2 on: Jun 24, 2018
Thank you


kingdude89

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Reply #3 on: Jun 24, 2018
No problemo


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