Roger Laut, who lives in Territory 5, carries 10/20/5 compulsory liability insurance along with optional collision that has a $1,000 deductible. Roger was at fault in an accident that caused $4,800 damage to the other car and $8,800 damage to his own car. Also, the courts awarded $19,000 and $9,000, respectively, to the two passengers in the other car for personal injuries. How much does the insurance company pay, and what is Roger’s share of the responsibility?
Roger Laut, who lives in Territory 5, carries 10/20/5 compulsory liability insurance along with optional collision that has a $1,000 deductible. Roger was at fault in an accident that caused $4,800 damage to the other car and $8,800 damage to his own car. Also, the courts awarded $19,000 and $9,000, respectively, to the two passengers in the other car for personal injuries. How much does the insurance company pay, and what is Roger’s share of the responsibility?
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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Roger Laut, who lives in Territory 5, carries 10/20/5 compulsory liability insurance along with optional collision that has a $1,000 deductible. Roger was at fault in an accident that caused $4,800 damage to the other car and $8,800 damage to his own car. Also, the courts awarded $19,000 and $9,000, respectively, to the two passengers in the other car for personal injuries. How much does the insurance company pay, and what is Roger’s share of the responsibility?
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