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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 $24000 $35000 $158000 $140000 $75 $65 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75.00 per month and receive $24,000.00 in Theft/Fire insurance. Two units of plan A insurance cost $150.00 per month and give $48,000.00 in Theft/Fire insurance. The company wants at least $789,000.00 in coverage for Theft/Fire insurance and $3,838,000.00 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 should include a What is the minimum monthly premium for the company? dollar symbol)
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