Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Lee Collins insured her pizza shop with a $ 9 0 , 0 0 0 fire insurance policy at a $ 1 . 1 0

Lee Collins insured her pizza shop with a $90,000 fire insurance policy at a $1.10 annual rate per $100. At the end of 7 months, Lees pizza shop went out of business so she canceled the policy. What is the cost of Lees premium and her refund? (Use Table 20.4)
Note: Round your answers to the nearest cent.

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

Business Finance

Authors: Eddie McLaney

11th Edition

1292134402, 9781292134406

More Books

Students also viewed these Finance questions

Question

What is your greatest strength?

Answered: 1 week ago

Question

Timeline for final evaluation

Answered: 1 week ago

Question

How will it be used?

Answered: 1 week ago