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(4 points) A company is considering two insurance plans with the following types of coverage and premiums: Fire/Theft Liability Monthly Premium Plan A Plan B
(4 points) A company is considering two insurance plans with the following types of coverage and premiums: Fire/Theft Liability Monthly Premium Plan A Plan B $25000 $30000 $160000 $144000 $80 $63 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $80.00 per month and receive $25,000.00 in Theft/Fire insurance. Two units of plan A insurance cost $160.00 per month and give $50,000.00 in Theft/Fire insurance. The company wants at least $700,000.00 in coverage for Theft/Fire insurance and $3,760,000.00 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and units of plan B. !! (Note: your answer is a dollar amount and What is the minimum monthly premium for the company? should include a dollar symbol)
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