Drivers Harris and Stein live in a state having no-fault auto ...

[Haya94]

Drivers Harris and Stein live in a state having no-fault auto insurance. Stein causes an accident by hitting Harris's car. Stein is not hurt. Harris spends three days in the hospital at a cost of 5,300 . Compute the amount each driver's insurance company pays toward medical expenses.

Question 2

Rick Rios has an asphalt paving business. He is trying to calculate whether he should replace some of his current equipment. Rick estimates that he will spend 8,00 . every 6 months over the next 4 years to maintain the current equipment. At a rate of 8 compounded semiannually, what is the total present value of the estimated maintenance payments? Use Tables 23-2A and 23-2B or a calculator.

[bob]

Answer to Question 1

Harris's company: 5,300 . Stein's company: 0

Answer to Question 2

8,00 .  6.73274 = 53,861.92 present value

[Haya94]

Thanks for the timely response, appreciate it

[helenmarkerine]

Gracias!