9. Paul's car slid off the icy road, causing $2500 in damage to his car. He was
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9. Paul's car slid off the icy road, causing $2500 in damage to his car. He was also treated for minor injuries, costing $1300. His car insurance has a $500 deductible, after which the full loss is paid. His health insurance has a $100 deductible and covers 75% of medical cost (total). What was Paul's out- of-pocket costs from the incident?
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Financial Markets and Institutions
ISBN: 978-0321280299
5th edition
Authors: Frederic S. Mishkin, Stanley G. Eakins
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