18. Troy's Tire Mart has a replacement value of $965, 000 and is insured for $588, 000, with an 80% coinsurance feature. How much of the loss will be paid by his insurance company if a fire causes $710, 000 in losses? $568, 000 $735, 000 $772, 000 $540, 777.20
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- Reconstruction cost on your new home is $500,000. You decide to insure it for only what you paid for it - $375,000. 2 years later you have a $150,000 loss. How much will your insurance company pay? $125,600 O $140,625 $150,000 O $75,000Sam home has a replacement value with a deductible. A couple of years ago he insured his home and the coverage never increased, even though the policy required coverage of 80% of the replacement cost. Last month, he had a kitchen fire, which caused damages. Amount of loss: $75,000 Deductible: $500 Amount of Insurance Actually Carried: $150,000 % Percentage Amount needed: 80% Replacement value: $200,000 What is the Total Amount he will pay? What is the percentage of the amount covered?Find the following: (Round your answer to the nearest cent.) Value of Property Amount of Insurance Kind of Policy Actual Fire Loss Amount Insurance Company will Pay $300,000 $200,000 80% Coins. $160,000
- What would it cost an insurance company to replace a family’s personal property that originally cost $40,000? The replacement costs for the items have increased 15 percent. Replacement cost: $ ????: "Home insurance and options" You own a house that costs $200,000 to build. You buy a $15,000 insurance policy to compensate you for damage to the house. The deductible is $25,000. (If your house suffers $4,000 damage from a storm, you pay for all repairs yourself. If the house suffers $45,000, in damage, you pay $25,000 and the insurance company pays the remaining $20,000.) (1) Graph the positions of the unhedged home, the home insurance and the hedged home position on the profit and loss diagram. In the diagram, specify the relevant values on the diagram. (2) To which trader type the insurance company belong? Explain your answer. a. Call buyer b. Call seller c. Put buyer d. Put sellerYou just invested $49,000 that you received as an insurance settlement. How much more will this account be worth in 40 years if you earn an average return of 7.6 percent rather than 7.1 percent? (Assume annual compounding) O $59,818.92 O $98,509.16 O $140,423.33 O $155,986.70 A Moving to another question will save this response. &R Question 6 of 25>» 7:44 PM rch 4/4/2022 X1 Carbon F3 F4 E5 F6 F7 F8 F9 F10 F11 F12 Home End Insert Delete & 3 Backspace E T PI D F G J KL B N M
- 8 . Individual Problems 20-4 Suppose that every driver faces a 4% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000. Suppose there are two types of individuals: those with $80,000.00 in the bank and those with $5,000.00 in the bank. Assume that individuals with $5,000.00 in the bank declare bankruptcy if they get in an accident. In bankruptcy, creditors receive only what individuals have in the bank. Assume that both types of individuals are only slightly risk averse. In this scenario, the actuarially fair price of full insurance, in which all damages are paid by the insurance company, is . Assume that the price of insurance is set at the actuarially fair price. At this price, drivers with $80,000.00 in the bank likely buy insurance, and those with $5,000.00 in the bank likely buy insurance. (Hint: For each type of driver, compare the price of insurance to the expected cost without insurance.)…14. You have a 70/30 medical insurance policy with a $1,500 premium and a $800 deductible. You have medical expenses totaling $3,600. What is the cost to the insurance company for the loss? $1,605 $1,960 $2,100 $2,850 5: C lo nirConsider the following: 1,000 dwellings valued at $100,000 each. Each owner faces risk of a $100, 000 loss. Owners agree to share losses that occur. If probability of loss is 0.02, and insurance company charges 200 additional amount for operating expenses and services, calculate premium to be paid by each owner
- You have 100/300/50 in insurance coverage. You just got into an accident with a car carrying 15 celebrating nurses. Their total medical bills come to $850,000. How much will your insurance company shell out for this accident? a. $50,000 b. $100,000 c. $300,000 d. $850,00050. If John purchases a new car for $18,500 and, according to research, itstraight line depreciates to zero value after 10 years, how much will his car beworth after 99 months? A. $0B. $3,237.50C. $186.87D. $3,150.2545. Bill borrowed PHP 10,000 from Mr. Will on July 11, 2018 and promised to pay it by December 21, 2018. How much should Bill pay Mr. Will, if the rate of simple interest is 15%. Consider Ordinary Simple Interest. a. PHP 9,621.19 b. PHP 10,679.17 46. A certain construction company wants to replace an equipment, 5 years from now and it will cost PHP 550,000,000. The equipment can be sold for PHP 5,000,000. To do this, the company invests PHP 100,000,000 now and PHP 25,000,000 next year. What amount is needed 5 years from now to buy this, if the interest is 8% compounded quarterly. c. PHP 11,679.17 i nsibi d. PHP 10,621.19 (25.2.02A a. PHP 392,189,210 c. PHP 421,929,000 b. PHP 561,846,120 d. PHP 491,791,000 atmoq silf to VIL 47. A sum of 300,000 is deposited in the bank now. After 10 years, 100,000 is withdrawn from the fund. What will be the withdrawal amount for the next 10 years? Money is worth 8% compounded annually. Saholisups a. 1,182,394.65 b. 2,185,654.92 c. 983,168.47 d.…