Calculate the total cost of a fire insurance premium for a building and contents given the following. (Use Table 20.3.) Rating of area 2 Class B $ Building Contents 70,000 $ 20,000 Total premium cost

Essentials Of Investments
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ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Calculate the total cost of a fire insurance premium for a building and contents given the following.
(Use Table 20.3.)
Rating of area
2
Class
B
$
Building
Contents
70,000 $
20,000
Total premium cost
Transcribed Image Text:Calculate the total cost of a fire insurance premium for a building and contents given the following. (Use Table 20.3.) Rating of area 2 Class B $ Building Contents 70,000 $ 20,000 Total premium cost
TABLE 20.3
Fire insurance rates per $100 of coverage for buildings and contents
CLASSIFICATION OF BUILDING
CLASS A
CLASS B
Rating of area Building
1
28
2
.33
3
41
Contents
35
47
.50
Building Contents
41
54
.60
.65
50
61
Transcribed Image Text:TABLE 20.3 Fire insurance rates per $100 of coverage for buildings and contents CLASSIFICATION OF BUILDING CLASS A CLASS B Rating of area Building 1 28 2 .33 3 41 Contents 35 47 .50 Building Contents 41 54 .60 .65 50 61
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