Using & Understanding Mathematics: A Quantitative Reasoning Approach with Integrated Review, Loose-Leaf Edition Plus MyLab Math with Pearson eText -- 18 Week Access Card Package

7th Edition

ISBN: 9780136698425

Author: Bennett, Jeffrey, Briggs, William

Publisher: PEARSON

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Textbook Question

Chapter 4.A, Problem 59E

Insurance Deductibles. Many insurance policies carry a deductible provision that states how much of a claim you must pay out of pocket before the insurance company pays the remaining expenses. For example, if you file a claim for $350 on a policy with a $200 deductible, you pay $200 and the insurance company pays $150. In the following cases, determine how much you would pay with and without the insurance policy.

a. You have a car insurance policy with a $500 deductible provision (per claim) for collisions. During a two-year period, you file claims for $450 and $925. The annual premium for the policy is $550.

b. You have a car insurance policy with a $200 deductible provision (per claim) for collisions. During a two-year period, you file claims for $450 and $1200. The annual premium for the policy is $650.

c. You have a car insurance policy with a $1000 deductible provision (per claim) for collisions. During a two-year period, you file claims for $200 and $1500. The annual premium for the policy is $300.

d. Explain why lower insurance premiums go with higher deductibles.

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Chapter 4.A, Problem 58E

Chapter 4.A, Problem 60E

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Chapter 4 Solutions

Using & Understanding Mathematics: A Quantitative Reasoning Approach with Integrated Review, Loose-Leaf Edition Plus MyLab Math with Pearson eText -- 18 Week Access Card Package

Ch. 4.A - By evaluating your monthly budget, you can learn...Ch. 4.A - The two things you must keep track of in order to...Ch. 4.A - A negative monthly cash flow means that Your...Ch. 4.A - When you are making your monthly budget, what...Ch. 4.A - For the average person, the single biggest...Ch. 4.A - According to Figure 4.1, which of the following...Ch. 4.A - Which of the following in necessary if you want to...Ch. 4.A - Sandy’s automobile insurance policy has an annual...Ch. 4.A - Suppose you have a health insurance policy with an...Ch. 4.A - Thomas receives a bill for $2700 for an...

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