Answered: What would it cost an insurance company…

What would it cost an insurance company to replace a family’s personal property that originally cost $113,000? The replacement costs for the items have increased by 12 percent.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 37P

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Question

What would it cost an insurance company to replace a family’s personal property that originally cost $113,000? The replacement costs for the items have increased by 12 percent.

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