Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The second question: A shop owner requested to insure his shop against fire and theft at an amount of 500,000 dinars, noting that the loss
The second question: A shop owner requested to insure his shop against fire and theft at an amount of 500,000 dinars, noting that the loss rate is 0.001 for fire and 0.002 for theft, and that the company bears a net premium of 10% to cover expenses and a profit margin. Calculate: 1- The net installment of this contract. 2- The commercial installment to be paid.
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