Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Apr 05, 2024

Bamidele insured her house for $300,000 (insured value). It is actually worth $500,000 (actual value). She has no deductible. She has a basement flood with

Bamidele insured her house for $300,000 (insured value). It is actually worth $500,000 (actual value). She has no deductible. She has a basement flood with $40,000 damages . How much will the insurance company pay on this claim?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Since Bamideles insured value is 300000 and the actual value of her house is 500000 we ne... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Principles of Economics

Authors: Tyler Cowen, Alex Tabarrok

3rd edition

1429278390, 978-1429278416, 1429278412, 978-1429278393

More Books

Students also viewed these Finance questions

Question

★★★★★

1 What are the main components of personal financial planning? Solve What is the purpose of a financial plan? Solve Identify some common actions taken to achieve financial goals. How does a job...

Answered: 1 week ago

Question

★★★★★

The fair market value of Sues home is $200,000. The replacement cost is $180,000. Assume Sue has a standard homeowners policy with an 80% coinsurance clause, her home is insured for $140,000 and she...

Answered: 1 week ago

Question

★★★★★

A transparent rod 30.0 cm long is cut flat at one end and rounded to a hemispherical surface of radius 10.0 cm at the other end. A small object is embedded within the rod along its axis and halfway...

Answered: 1 week ago

Question

★★★★★

Mariah Holt, a management consultant, provided you with the following statement for the year ended December 31. Fees received (gross) .................................. $145,000 Salaries and benefits...

Answered: 1 week ago

Question

★★★★★

The cash payments associated with any of these expenses may have been made in a prior period or in the current period, or they may be made in a future period, when the [assets / liabilities] are paid.

Answered: 1 week ago

Question

★★★★★

Define psychology and cite its four major goals.

Answered: 1 week ago

Question

★★★★★

A study found that, in 2005, 12.5% of U.S. workers belonged to unions (The Wall Street Journal, January 21, 2006). Suppose a sample of 400 U.S. workers is collected in 2006 to determine whether union...

Answered: 1 week ago

Question

★★★★★

Minnie owns a qualified annuity that cost $78,000. The annuilty is to pay Minnie $650 per month for life after she reaches age 65. Minnie burns 65 on September 2B, 2018, and receives her first...

Answered: 1 week ago

Question

★★★★★

When you identified income statement fluctuations in steps (e) and (f) of this assignment, which information did you find most helpfulcomparisons of the current year's and prior year's balances, or...

Answered: 1 week ago

Question

★★★★★

Why is Internet fraud particularly difficult to police? What is the difference between civil and criminal court?How do the remedies differ in each?

Answered: 1 week ago

Question

★★★★★

Culture affects our personalities and behaviors. To analyze underlying reasons for bias and the effects on treatment methods, you will be watching a short film that asks what if our normal wasn't...

Answered: 1 week ago

Question

★★★★★

Water, initially at 100 Celsius and 200 kPa, is heated isothermally (yes, this can happen-adiabatic and isothermal are not the same things) until a saturated liquid-plus-vapor mixture having a...

Answered: 1 week ago

Question

★★★★★

Examine managing a firearms business from a potentially challenging scenario: Managing a firearms business during a national tragedy, more specifically, during a national tragedy involving a mass...

Answered: 1 week ago

Question

★★★★★

Imagine you want to air an advertisement on TV . The options are morning or afternoon. The media agency claims that the advertisement will have same effectiveness regardless of the time. The...

Answered: 1 week ago

Question

★★★★★

An existing office in Kariakoo currently sells goods for Tshs 100 per unit. The variable cost is Tshs 40 per unit, and 20,000units are sold annually and a profit of Tshs 300,000 is available...

Answered: 1 week ago

Question

★★★★★

Please fill in the blank The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses...

Answered: 1 week ago

Question

★★★★★

a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period? b. How many shares of each stock would he get if he used the $28 500 and invested equally in all...

Answered: 1 week ago

Question

★★★★★

The following diagram shows the monthly demand for hot dogs in a large city. The marginal cost (and average cost) is a constant $2 per hot dog. a. If the market for hot dogs is perfectly competitive,...

Answered: 1 week ago

Question

★★★★★

In a command economy, such as the old Soviet Union, there were no prices for almost all goods. Instead, goods were allocated by a central planner. Suppose that a good like oil becomes more scarce....

Answered: 1 week ago

Question

★★★★★

Looking for dominant strategies is a great way to find an equilibrium in many games. However, there are also a lot of games where this wont work because not all players have dominant strategies. If...

Answered: 1 week ago

Question

★★★★★

Leslie participates in IBO's nonqualified deferred compensation plan. For 2014, she is deferring 10 percent of her $300,000 annual salary. Based on her deemed investment choice, Leslie expects to...

Answered: 1 week ago

Question

★★★★★

Michael is single and 35 years old. He is a participant in his employer's sponsored retirement plan. How much can Michael contribute to a Roth IRA in each of the following alternative situations? a....

Answered: 1 week ago

Question

★★★★★

XYZ Corporation has a deferred compensation plan under which it allows certain employees to defer up to 40 percent of their salary for five years. (For purposes of this problem, ignore payroll taxes...

Answered: 1 week ago

Previous Question Next Question