Author Question: Drake's Bakery sustained a fire loss of 2,260,000. They had multiple carrier fire insurance coverage ... (Read 164 times)

chads108 · **on:** Jun 24, 2018

Drake's Bakery sustained a fire loss of 2,260,000. They had multiple carrier fire insurance coverage on the building in the amount of 9,120,000. The coverage was: 3,465,600 policy held by Colonial, 2,736,000 policy held by The Hartford, and 2,918,400 policy held by Continental. Which of the three companies were responsible for 723,200 of the loss?

Question 2

The owner of a service station receives a loan of 8,500 at 10.5 for 7 months. Find the amount of simple interest.(Round to the nearest cent)
A) 520.63
B) 621.25
C) 489.65
D) 753.28