3. David has a personal injury protection policy that covers each person in, on, around, or under his car for medical expenses up to $25,000. He is involved in an accident and three people in his car are hurt. One person has $5,000 of medical expenses, two people each have $2000 worth of medical expenses, and David himself has medical expenses totaling $15,000. How much money must the insurance company pay out for these four people?
3. David has a personal injury protection policy that covers each person in, on, around, or under his car for medical expenses up to $25,000. He is involved in an accident and three people in his car are hurt. One person has $5,000 of medical expenses, two people each have $2000 worth of medical expenses, and David himself has medical expenses totaling $15,000. How much money must the insurance company pay out for these four people?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:3. David has a personal injury protection policy that covers each person in, on, around, or under his car
for medical expenses up to $25,000. He is involved in an accident and three people in his car are hurt.
One person has $5,000 of medical expenses, two people each have $2000 worth of medical expenses,
and David himself has medical expenses totaling $15,000. How much money must the insurance
company pay out for these four people?
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