Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Mark's house is insured for $251400, and he has been paying premiums for the past 10 years. Mark's home was wiped out in a hurricane.
Mark's house is insured for $251400, and he has been paying premiums for the past 10 years. Mark's home was wiped out in a hurricane. The face value of the policy is $251400, the remaining mortgage is $129000, and the appraised value is $211400. How much can he recover from his insurance company for the loss?
- $251400
- $82400
- $129000
- $211400
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