If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $14,200 claim?

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter8: Insuring Your Life
Section: Chapter Questions
Problem 6FPE
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If Carissa has a $140,000 home insured for $110,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $14,200 claim?

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