Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Superior Insurance Company of Maine recently advertised the following discounts for qualified drivers 7 percent discount to drivers who have not had an accident

image text in transcribed
The Superior Insurance Company of Maine recently advertised the following discounts for qualified drivers 7 percent discount to drivers who have not had an accident in the past seven years 15 percent discount for those with two or more cars, 5 percent for insuring both home and car 10 percent discount for those who drive less than 10,000 miles a year 25 percent discount for drivers who are good students have a B average or above) 10 percent discount for drivers aged 50 or older 7 percent for drivers aged 24 to 49 5 percent discount for drivers who has taken a defensive driving course 15 percent discount for noncommuters (less than 30 miles round-trip) 13 percent discount for cars with antitheft devices Jana, 25 years old, currently pays $1,520 annually for a PAP for her 2011 Chevy Malibu. She uses her car to commute 40 miles round-trip to work and for her biannual cross-country trips to visit relatives. Last year she received a speeding ticket but took a defensive driving course in order to remove the ticket from her record, she has never had an accident. When she purchased her car she had an alarm installed. Jana is sure that she qualifies for at least one or more discounts Calculate her new premium If she transfers to the Superior Insurance Company Her new premium if she transfers to the Superior Insurance Company would be . (Round to the nearest cent) The Superior Insurance Company of Maine recently advertised the following discounts for qualified drivers 7 percent discount to drivers who have not had an accident in the past seven years 15 percent discount for those with two or more cars, 5 percent for insuring both home and car 10 percent discount for those who drive less than 10,000 miles a year 25 percent discount for drivers who are good students have a B average or above) 10 percent discount for drivers aged 50 or older 7 percent for drivers aged 24 to 49 5 percent discount for drivers who has taken a defensive driving course 15 percent discount for noncommuters (less than 30 miles round-trip) 13 percent discount for cars with antitheft devices Jana, 25 years old, currently pays $1,520 annually for a PAP for her 2011 Chevy Malibu. She uses her car to commute 40 miles round-trip to work and for her biannual cross-country trips to visit relatives. Last year she received a speeding ticket but took a defensive driving course in order to remove the ticket from her record, she has never had an accident. When she purchased her car she had an alarm installed. Jana is sure that she qualifies for at least one or more discounts Calculate her new premium If she transfers to the Superior Insurance Company Her new premium if she transfers to the Superior Insurance Company would be . (Round to the nearest cent)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials of Marketing Research

Authors: Joseph Hair, Mary Wolfinbarger, Robert Bush, David Ortinau

2nd edition

73404829, 978-0073404820

Students also viewed these Finance questions

Question

1. Arouse curiosity with questions such as What would happen if?

Answered: 1 week ago