Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If Carissa Dalton has a $430,000 home insured for $336,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on

image text in transcribed
If Carissa Dalton has a $430,000 home insured for $336,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $18,500 claim? Assume there is no deductible. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Amount paid

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

Fundamentals Of Financial Management

Authors: James C Van Horne

3rd Edition

0133393410, 978-0133393415

More Books

Students also viewed these Finance questions

Question

Explain attribution theory as it applies to conflict management

Answered: 1 week ago

Question

Understand highlights of legislation enacted in 1964 and beyond

Answered: 1 week ago