Author Question: An insured carries all three classifications of insurance, with a deductible of 500 for collision. ... (Read 110 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
An insured carries all three classifications of insurance, with a deductible of 500 for collision. The insured paid an annual premium of 1,720 . The insured backed into a car in a parking lot, causing 580 damage to the car of the insured and 1,770 damage to the other car. Compute the amount that the insurance company made from the insured this year.

Question 2

15,00 . (present value) is borrowed today at 12 compounded quarterly. The loan will be amortized over 4 years with equal quarterly payments. Compute the quarterly payments that are required to exactly pay off the loan. Use Tables 23-2A and 23-2B or a calculator.



DylanD1323

  • Sr. Member
  • ****
  • Posts: 314
Answer to Question 1

0

Answer to Question 2

15,00 .  12.56110 = 1,194.16 quarterly payments



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Always store hazardous household chemicals in their original containers out of reach of children. These include bleach, paint, strippers and products containing turpentine, garden chemicals, oven cleaners, fondue fuels, nail polish, and nail polish remover.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Aspirin is the most widely used drug in the world. It has even been recognized as such by the Guinness Book of World Records.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

For a complete list of videos, visit our video library