What would be the total fire insurance premium for Best Hardware if their $685,000 building belongs in structural classification B? The contents are worth $840,250 and they received an area rating of 4. The rates per $100 are found in Table 19-4. (Round your answer to the nearest cent.) a. $12,071.40 b. $12,180.08 c. $14,434.18 d. $14,698.10
What would be the total fire insurance premium for Best Hardware if their $685,000 building belongs in structural classification B? The contents are worth $840,250 and they received an area rating of 4. The rates per $100 are found in Table 19-4. (Round your answer to the nearest cent.) a. $12,071.40 b. $12,180.08 c. $14,434.18 d. $14,698.10
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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What would be the total fire insurance premium for Best Hardware if their $685,000 building belongs in structural classification B? The contents are worth $840,250 and they received an area rating of 4. The rates per $100 are found in Table 19-4. (Round your answer to the nearest cent.)
a. $12,071.40
b. $12,180.08
c. $14,434.18
d. $14,698.10
Transcribed Image Text:Area
Rating
1
2345
Building
$.21
.38
.44
.59
.64
A
Contents
$.24
.42
.51
.68
.73
Building
$.32
.39
.55
.76
.92
Structural Classification
B
Contents
$.37
.48
.66
.83
1.09
Building
$.38
.43
.69
.87
1.08
C
Contents
$.42
.51
.77
1.04
1.13
Building
$.44
.57
.76
.98
1.39
D
Contents
$.48
.69
.85
1.27
1.43
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