Author Question: An insured carries all three classifications of insurance, with a deductible of 500 for collision. ... (Read 200 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?

During pregnancy, a woman is more likely to experience bleeding gums and nosebleeds caused by hormonal changes that increase blood flow to the mouth and nose.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

Did you know?

To maintain good kidney function, you should drink at least 3 quarts of water daily. Water dilutes urine and helps prevent concentrations of salts and minerals that can lead to kidney stone formation. Chronic dehydration is a major contributor to the development of kidney stones.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

For a complete list of videos, visit our video library