If Carissa Dalton has a $410,000 home insured for $320,000, based on the 80 percent coinsurance provision, how much would the Insurance company pay on a claim of $17,500? Assume there is no deductible. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Amount paid

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 21CE
icon
Related questions
Question
If Carissa Dalton has a $410,000 home insured for $320,000, based on the 80 percent coinsurance provision, how much would the
Insurance company pay on a claim of $17,500? Assume there is no deductible. (Do not round intermediate calculations. Round your
answer to 2 decimal places.)
Amount paid
Transcribed Image Text:If Carissa Dalton has a $410,000 home insured for $320,000, based on the 80 percent coinsurance provision, how much would the Insurance company pay on a claim of $17,500? Assume there is no deductible. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Amount paid
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage