You were in an accident that required surgery and five days of recovery in thehospital. Your total hospital bill reached $100,000. At the time of your accident youhad previously paid nothing in health care costs for the year. Your health insurancehas a deductible of $750 per year, a coinsurance rate for hospitalization of 10%, andan individual out-of-pocket maximum payment of $3000 for the year. How muchmust you pay out-of-pocket for your care in this situation?

Coinsurance is the amount that an insured must pay toward a covered claim once the deductible is…

Answered: You were in an accident that required…

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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Similar questions

Jack made monthly contributions of $200 to his son's RESP for a total of 12 years. The contributions as well as the CESG was invested at the end of every month in a fund that earned a return of 7% compounded monthly. If Jack's son Emmanuel decides not to attend post-secondary education, and Jack makes a withdrawal from the RESP account in full, how much of that withdrawal will be Accumulated Income Payment? 56,230 19,367 O 25,127 28,800
Please help answer all using typing as from one subpart.
Elin purchased a used car for $9,500. She wrote a check for $2,000 as a down payment for the car and financed the $7,500 balance. The annual percentage rate (APR) is 3% compounded monthly, and the loan is to be repaid in equal monthly installments over the next three years. Which of the following is most near to Elin's monthly car payment?
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Michael Howitt of Berkley, Michigan, recently had his gallbladder removed. His total bill for this surgery, which was his only health care expense for the year, came to $13,810. His health insurance plan has a $450 annual deductible and an 80/20 coinsurance provision. The cap on Michael's coinsurance share is $1,910. Round your answers to the nearest dollar. a. How much of the bill will Michael pay? b. How much of the bill will be paid by Michaels insurance?
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Bill Converse of Rexburg, Idaho, recently had his truck slide off a gravel road and strike a tree. Bill's vehicle suffered $18,000 in damage. The truck has a book value of $38,000. Bill carried collision insurance with a $400 deductible. How much will Bill be reimbursed by his policy? Round your answer to the nearest dollar. $
Sarah made a prepaid purchase of medical insurance of $3,100 for the year. In five months he cancelled the insurance. Calculate the pro-rated refund he should receive from the insSurance company. Round to the nearest cent SAVE PRO 15°C D

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