Water damage from a major flood in a Midwestern city resulted in damages estimated at $108 million. As a result of theclaimant payouts, insurance companies raised homeowners' insurance rates by an average of $59 per year for each of the160,000 households in the affected city. If a 20-year study period is considered, what was the rate of return on the $108million paid by the insurance companies?

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Answered: Water damage from a major flood in a…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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