Get correct solution for this accounting question please do fast A property-casualty insurer brings in $6.15 Million inpremiums onto its homeowners MP line of insurance.The line's losses amount at $4,212,750, expenses are$1,506,750, and dividends are $92,250. The insurerearns $153,750 in the investment of its premiums.Calculate the line's operating ratio.

Step 1: Define Operating ratioOperating ratio is the difference between combined ratio and…

Answered: A property-casualty insurer brings in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A buyer is applying for a mortgage loan of $70,000, with an annual interest rate of 12% and blended monthly payments of $722.32 including both principal and interest. The taxes on the property being mortgaged are $1900 per annum. The buyer has a gross income of $41,400 per annum. The buyer's debt service ratio is: a.20.94% b.15.10% c.25.53% d.25.78%
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A purchaser has a total weekly income of $788. The lender is using a 26% housing expense-to-income ratio. Based on this ratio, what is the maximum monthly loan payment that the buyer will qualify for? 98. $205 $820 $888 A. B. C. D. $2,459 A business produces an annual net income of $103,000. The annual operating costs total $31,000. T rate of return is 11%. What is the estimated value of the business? 99.
Calculate the amount to be paid (in $) by the insurance company for the claim. (Round your answer to the nearest cent.) Amount of Loss Insurance Company Will Pay Replacement Value of Building $340,000 Submit Answor Face Value Coinsurance Amount of Policy Clause (%) of Loss $300,000 90 $115,000 $ X
Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause. Round to the nearest dollar. Replacement Cost of Building: $340,000 Face Value of Policy: $306,000 Amount of Loss: $2,500
In order to make some home improvements, a homeowner spent $24000. He paid 18% as a down payment and financed the balance of the purchase with a 36-month fixed installment loan with an APR of 4.5% Determine the home owner's total finance charge and monthly payment. Select one: a.Total finance charge = $3381.02; Monthly payment = $640.58 b.Total finance charge = $1156.06; Monthly payment = $579.03 c.Total finance charge = $3074.40; Monthly payment = $752.07 d.Total finance charge = $1395.12; Monthly payment = $585.42
Based on the following data, calculate the items requested: Rental Costs Buying Costs Annual rent Insurance $ 7,630 Annual mortgage payments $ 170 Property taxes Security deposit $ 775 Down payment/closing costs Growth in equity $ 10,300 (9,700 is $ 1,880 $ 5,000 $ 600 Insurance/maintenance Estimated annual appreciation $ 1,300 $ 1,950 Assume an after-tax savings interest rate of 7 percent and a tax rate of 32 percent. Assume this individual deductions that exceed the standard deduction amount. a. Calculate total rental cost and total buying cost. (Do not round intermediate calculations. Round your nearest whole dollar.)
Suppose a life insurance company sells a $250,000 one-year term life insurance policy to a 24-year-old female for $360. The probability that the female survives the year is 0.999477. Compute and interpret the expected value of this policy to the insurance company. The expected value is $ (Round to two decimal places as needed.) Which of the following interpretation of the expected value is correct? O A. The insurance company expects to make an average profit of $32.71 on every 24-year-old female it insures for 1 month. O B. The insurance company expects to make an average profit of $359.81 on every 24-year-old female it insures for 1 year. O C. The insurance company expects to make an average profit of $20.84 on every 24-year-old female it insures for 1 month. O D. The insurance company expects to make an average profit of $229.25 on every 24-year-old female it insures for 1 year.
An insurance company has a simplified method for determining the annual premium for a term life insurance policy. A flat annual fee of $150 is charged for all policies plus $2.50 for each thousand dollars of the amount of the policy.For example, a $20,000 policy would cost $150 for the fixed fee plus $50, which corresponds to the face value of the policy. If p equals the annual premium in dollars and x equals the face value of the policy (stated in thousands of dollars), determine the function which can be used to compute annual premiums.
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The monument office building has an NOI which is expected to be $137,668 in year 1, $155,936 in year 2. and $169,411 in year 3. Assume an annual mortgage payment equal to 115,421. What is the debt coverage ratio

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A property-casualty insurer brings in $6.15 Million in premiums onto its homeowners MP line of insurance. The line's losses amount at $4,212,750, expenses are $1,506,750, and dividends are $92,250. The insurer earns $153,750 in the investment of its premiums. Calculate the line's operating ratio.