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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Question
You are responsible for an automobile accident. Use the information below to determine:
- the total amount your liability insurance will pay for the accident
- the total amount your collision insurance will pay for the accident
- the amount of additional damages you are responsible for as a result of the accident
You and the driver of the other car were the only people involved in the accident. There were no injuries from the accident.
- You have a 50/100/50 liability insurance policy with no deductible
- You have collision insurance with a deductible of $500
- The other car was valued at $25,000 and requires $10,000 in repairs
- Your car was valued at $20,000 and requires $15,000 in repairs
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