Question
Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner's insurance policy is $600 for the coverage
Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner's insurance policy is $600 for the coverage they need. Their insurance company offers a discount of 7 percent if they install dead-bolt locks on all exterior doors. The couple can also receive a discount of 4 percent if they install smoke detectors on each floor. They have contacted a locksmith, who will provide and install dead-bolt locks on the two exterior doors for $89 each. At the local hardware store, smoke detectors cost $22 each, and the new house has two floors. Dave and Ellen can install them themselves.
A. What discount will Dave and Ellen receive if they install the dead-bolt locks?
b.What discount will Dave and Ellen receive if they install smoke detectors?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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