Calculate the short-term premium and refund for the policy (in $). Use Table 19-5, if necessary. Annual Premium Canceled After Canceled By Short-Term Premium Refund $570 25 days insured $ $
Calculate the short-term premium and refund for the policy (in $). Use Table 19-5, if necessary. Annual Premium Canceled After Canceled By Short-Term Premium Refund $570 25 days insured $ $
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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Calculate the short-term premium and refund for the policy (in $). Use Table 19-5, if necessary.
| Annual Premium |
Canceled After |
Canceled By |
Short-Term | |
|---|---|---|---|---|
| Premium | Refund | |||
| $570 | 25 days | insured | $ | $ |
Transcribed Image Text:TABLE 19-5 Property Insurance Short-Rate Schedule
Percent of
Annual
Premium
Time Policy
Is in Force
5 days
10 days
15 days
20 days
25 days
1 month
2 months
3 months
8
10
14
16
18
20
30
40
Time Policy
Is in Force
(months)
4
5
6
7
8
xa
10
11
12
Percent of
Annual
Premium
50
60
70
75
80
85
90
95
100
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