1. PJ has an insurance policy with a deductible of 250 per loss and a maximum reimbursement of 3000 per loss. Determine the insurance payment if PJ experiences a loss of: (a) 100 (b) 1150 (c) 3200 2. A friend asks your opinion on what type of insurance policy they should buy. Explain how policies with different deductibles, policy limits, and co-insurance can suit people with different needs. For example, what kind of person would be satisfied with owning a high-deductible policy (perhaps in the context of auto insurance)