Please use the following Tables for the Problem Below :)

Problem: To an insurer, you are a statistic. Your premiums are based on your risk factors, including your credit rating. Bad credit increases the amount you pay for your premiums. Make certain to check your credit report annually for accuracy. Only premium for bodily injury and property damage should be calculated, not the whole premium. (Use tables 20.5, 20.6, 20.7)

a. Calculate the premium for someone in class 20 for 10/20/5. Note: This premium is for compulsory insurance.

Premium $

b. Determine how much the premium will be for class 20, 50/100/50.

Premium $

c. What is the difference between the two?

Difference $

TABLE 20.5 Compulsory insurance (based on class of driver) BODILY INJURY TO OTHERS 10/20 Class 55 98 80 116 20 Explanation of 10/20 and 5 Maximum paid to one person per accident for bodily injury "M means thousands. DAMAGE TO SOMEONE ELSE'S PROPERTY Class 5M $129 160 160 20 186 20 Maximum paid for Maximum paid for total bodily property damage per accident injury per accident