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Author Question: Driver Buckley lives in a state having no-fault auto insurance. Goodroads Insurance Company insures ... (Read 297 times)

sheilaspns

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on: Jun 24, 2018
Driver Buckley lives in a state having no-fault auto insurance. Goodroads Insurance Company insures Buckley for no-fault insurance only. Buckley's car is struck by a truck while waiting at a stop light. Medical expenses for Buckley and passenger are 547 . Repairs to Buckley's car cost 320 . Six months later, a car backs out of an alley and hits Buckley's car, causing medical expenses of 950 for Buckley and passenger and 1,249 for repairs to Buckley's car. Compute the amount Goodroads Insurance Company pays for Buckley's involvement in accidents this year.

Question 2

Frances Koo has 43,800 in an investment account that pays her interest at 10 compounded semiannually. Frances will withdraw a specific amount (always the same) every six months for 11 years. After the last withdrawal, the account will be empty. Compute the amount that she will withdraw every six months. Use Tables 23-2A and 23-2B or a calculator.


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cam1229

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

1,497

Answer to Question 2

43,800  13.16300 = 3,327.51 withdrawn every 6 months


sheilaspns

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

atrochim

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Reply 3 on: Yesterday
Excellent

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