Question
Matt and Kristin are newly married and living in their first house. The yearly premium on their homeowners insurance policy is $300 for the coverage
Matt and Kristin are newly married and living in their first house. The yearly premium on their homeowners insurance policy is $300 for the coverage they need. Their insurance company offers a 4 percent discount if they install dead-bolt locks on all exterior doors. The couple can also receive a 2 percent discount 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 $50 each. At the local hardware store, smoke detectors cost $5 each, and the new house has two floors. Kristin and Matt can install them themselves. What discount will Matt and Kristin receive if they install the dead-bolt locks? If they install smoke detectors? (Round your answers to 2 decimal places.)
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