TABLE 19-5 Property Insurance Short-Rate SchedulePercent ofPercent ofTime PolicyIs in ForceTime PolicyIs in Force5 days10 daysAnnualAnnualPremium(months)Premium84501056015 days147020 days1677525 days188.80851 month2010902 months3011953 months4012100 Rudy needs temporary property insurance to cover his home for a period of 6 months. Based or Table 19-5 what would be his short-rate premium if the annual premium were $1,265.00? (Round your answer to the nearest cent.)O $379.50O $632.50O $885.50O $1,265.00

Introduction: The given table shows the percentages of the annual premium retained by the insurance…

Rudy needs temporary property insurance to cover his home for a period of 6 months. Based ori Table 19-5 what would be his short-rate premium if the annual premium were $1,265.00? (Round your answer to the nearest cent.) O $379.50 O $632.50 O $885.50 $1 265 00

Rudy needs temporary property insurance to cover his home for a period of 6 months. Based ori Table 19-5 what would be his short-rate premium if the annual premium were $1,265.00? (Round your answer to the nearest cent.) O $379.50 O $632.50 O $885.50 $1 265 00

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: Peng Lacson borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that? * O…

A: Solution

Q: Determine how much the following individual will save in taxes with the specified tax credits or…

Q: Calculate the monthly interest for the given credit card transaction $200 balance, 10% interest…

Q: You receive an inheritance of $12,500, and you place the full amount into a bank account. The bank…

A: Given that : Principle P = $12500 Rate R = 7.5% Time T = 1 Year

Q: Amir purchased five OMR2500 bonds at a closing rate of 94.98% Find the cost of bond. a. OMR 14671.7…

A: 5 bonds of 2500 will make a sum of 12500, whose 94.68% will turn out to be OMR 11872.5

Q: Assume you have a home that would cost $265,000 to replace. You currently have the home insured for…

A: Insurance is sharing of risk of damage with insurance company by payment of small premium.

Q: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit,…

A: The objective of this question is to calculate the Social Security and Medicare withholdings for an…

Q: You owe $7200 on a credit card, your company says the minimum payment is 3% of what you owe. What is…

Q: Sarah deposited $9,300 in a savings account that earns 17.5% annual simple interest. How much is in…

A: total amount in her account after 42 months will be = initial deposited + simple interest simple…

Q: Consider a credit card with a balance of $8500$ and an APR of 12.5%. If you want to make monthly…

A: The objective of this question is to calculate the total amount paid over a period of 3 years to…

Q: It costs a manufacturer $3,374 to make a product. The rate of markup is 28.00% of the selling price…

A: Step 1: Calculate Regular selling price: Regular selling price = cost of product (1+rate of mark up)…

Q: you are paid 16.50/hr. you work 40 hr/week and 4 weeks/month. Your deductions are FICA (7.65%) and…

A: IntroductionThe gross income is the total money earned before the taxes and other deductions are…

Q: A student obtains a loan for $7,250. How much money does the student actually receive, assuming a…

A: The objective of this question is to find out the actual amount of money the student receives after…

Q: A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98 days. The…

A: Given problem:- A $25,000 United States Treasury bill, purchased at 1.66% interest, matures in 98…

Q: The owner of a hot dog stand receives a loan of $4,750 at 6.25% for 9 months. Find the amount of…

Q: If Jessica borrows $4,500 at 6 7/8% simple interest for 4 years, how much interest will she pay?…

Q: A bank in Toronto charges 2.7% commission to buy and sell currencies. Assume that the current…

Q: 3. A restaurant bill is $59 and you pay $72. What percentage gratuity did you pay

Q: The table on the right shows closing costs for a purchase of a $244,000 house requiring a 20% down…

A: This is question of algebraHere we have to find percentageFurther calculation is given below

Q: 11) Jen works as a Nurse. Her annual salary is $62,250. As of January 1, Jen will receive a 4.28%…

Q: o finance $14,516.29 on a 3-year car loan. The interest rate for the loan is 6.25%. What is your…

A: Introduction: By making monthly payments, a borrower pays down some of the outstanding balance with…

Q: Buford pays for a $4000.00 vacation with a credit card that has a 20% APR. He decides to make…

Q: Under the current tax plan, the person pays 26% flat income tax on their salary. Under a proposed…

A: Under the current tax plan, the person pays 26% flat income tax on their salary. Under a proposed…

Q: For a three year bond of $2,600 at a simple interest rate of 10% per year, find the semiannual…

Q: You want to be able to withdraw $25,000 each year for 15 years. Your account earns 4% interest. How…

A: To calculate the amount that needs to pay at the beginning to able to withdraw $25,000 each year for…

Q: You can afford a $200 per month car payment. You've found a 5 year loan at 2% interest. How big of a…

A: How big of a loan can you afford.

Question

TABLE 19-5 Property Insurance Short-Rate Schedule
Percent of
Percent of
Time Policy
Is in Force
Time Policy
Is in Force
5 days
10 days
Annual
Annual
Premium
(months)
Premium
8
4
50
10
5
60
15 days
14
70
20 days
16
7
75
25 days
18
8.
80
85
1 month
20
10
90
2 months
30
11
95
3 months
40
12
100

Rudy needs temporary property insurance to cover his home for a period of 6 months. Based or Table 19-5 what would be his short-rate premium if the annual premium were $1,265.00? (Round your answer to the nearest cent.)
O $379.50
O $632.50
O $885.50
O $1,265.00

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Research Ethics$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

You take out a 7-yr car loan for $25,000 with a 7.5% APR. The fixed monthly payment is $383.46. How much interest do you owe after one month? How much interest do you pay over the life of the loan?
Tony's Towing borrows $17,250, at 7.5% interest, for 320 days. If the bank uses the exact interest method, how much interest will the bank collect? (Round to the nearest cent.) O $718.75 $1,134.00 O $1,134.25 O $1,293.75
You take out a $200 loan that charges 6.8% simple interest. How much will you owe, including interest, after 4 years? Round to 2 decimal places, if needed. Do NOT use the dollar sign in the answer box. You will owe $ Blank 1. Calculate the answer by read surrounding text.
You borrow $35,000 for a home repair. You can afford to pay back $800 a month. 3. If you borrow the money directly from a bank, you have a 6.25% interest rate. How long will it take you to pay off the loan? 4. If you borrow the money using a credit card, you will have a 17.35% interest rate. How long will it take you to pay off the loan?
For a three year bond of $2,400 at a simple interest rate of 11% per year, find the semiannual interest payment and the total interest earned over the life of the bond. The semiannual interest on the bond is $. (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.) The total interest on the bond is $ (Simplify your answer. Type an integer or a decimal. Round to the nearest cent as needed.)
The amount to be financed on a new car is $9,500. The terms are 6% for 4 years. What is the monthly payment? Answer the question. (Round your answer to the nearest cent.)$ =
Lenny Robredo takes out a $30000 loan for her new Honda Civic. She will pay back the entire loan at the end of 8 years. It is a compound interest loan with an interest rate of 7.25%. How much will she have to pay at the end of 8 years? * O $17400.00 O $30725.00 O $2351982.31 O $52516.97
Consider a credit card with a balance of $⁢8500 and an APR of 14.5%. If you want to make monthly payments in order to pay off the balance in 3 years, what is the total amount you will pay? Round your answer to the nearest cent, if necessary.