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A company has a property insurance policy with an annual premium of $1,310. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 310 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.) $

A company has a property insurance policy with an annual premium of $1,310. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 310 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.) $

Essentials Of Investments
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
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A company has a property insurance policy with an annual premium of $1,310. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 310 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.) $
Transcribed Image Text:A company has a property insurance policy with an annual premium of $1,310. In recent months, the company has filed four different claims against the policy: a fire, two burglaries, and a vandalism incident. The insurance company has elected to cancel the policy, which has been in effect for 310 days. What is the regular refund due (in $) to the company? (Round your answer to the nearest cent.) $
Calculate the amount to be paid (in $) by the insurance company for the claim. (Round your answer to the nearest cent.) Replacement Value of Building $340,000 Face Value of Policy $300,000 Coinsurance Clause (%) 90 Amount of Loss $115,000 Amount of Loss Insurance Company Will Pay $
Transcribed Image Text:Calculate the amount to be paid (in $) by the insurance company for the claim. (Round your answer to the nearest cent.) Replacement Value of Building $340,000 Face Value of Policy $300,000 Coinsurance Clause (%) 90 Amount of Loss $115,000 Amount of Loss Insurance Company Will Pay $
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