Question
Mark owns a building that he insured for $90,000. The replacement cost of the building is $100,000. Mark's homeowners insurance policy has an 80 percent
Mark owns a building that he insured for $90,000. The replacement cost of the building is $100,000. Mark's homeowners insurance policy has an 80 percent coinsurance clause. Ignoring any deductible, if Mark's building is destroyed by a covered peril, calculate how much will Mark receive from his insurer?
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
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