Your home insurance policy has a $500 deductible and provides cash value coverage n contents If your home is over 25 years old and a small fire causes $16000 damage to it, what amount of the claim would the insurance company pay

Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Aug 23, 2020

Your home insurance policy has a $500 deductible and provides cash value coverage n contents. If your home is over 25 years old and a

Your home insurance policy has a $500 deductible and provides cash value coverage n contents. If your home is over 25 years old and a small fire causes $16000 damage to it, what amount of the claim would the insurance company pay?

Step by Step Solution

★★★★★

3.46 Rating (172 Votes )

There are 3 Steps involved in it

Step: 1

Given that the home insurance policy has a 50... 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

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

Recommended Textbook for

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

More Books

Students also viewed these General Management questions

Question

★★★★★

What amount of the following items should be accounted for in an enterprise fund? Warehouse equipment used to store supplies for delivery to all city departments and agencies on a cost- reimbursement...

Answered: 1 week ago

Question

★★★★★

What amount of the proceeds from the issuance of no-par, no-stated-value stock is recorded in the Capital Stock account?

Answered: 1 week ago

Question

★★★★★

Parker Water's $200,000 whole-life insurance policy has a cash value of $11,288. Parker is 60 years old, smokes, and is converting to an extended term policy for the same face value. Use 10-year...

Answered: 1 week ago

Question

★★★★★

Beck Manufacturing reports the following information in T-account form for 2019. The following data is provided for Garcon Company and Pepper Company. Garcon Company Pepper Company Beginning finished...

Answered: 1 week ago

Question

★★★★★

The five-number summary of this box plot is $2.10, $4.05, $4.95, $6.80, $11.50. The plot summarizes the amounts of money earned in a recycling fund drive by 32 members of the Oakley High School...

Answered: 1 week ago

Question

★★★★★

3. LO.2 What are the three requirements that must be satisfied for a transaction to qualify for nontaxable exchange treatment under 1031?

Answered: 1 week ago

Question

★★★★★

One of the most interesting concepts to be introduced in positive psychology is the notion of positivity (see Chapter 19). Dr Barbara Frederickson (2009) claims that individuals should experience...

Answered: 1 week ago

Question

★★★★★

Rizio Co. purchases a machine for $12,500, terms 2/10, n/60, FOB shipping point. The seller prepaid the $360 freight charges, adding the amount to the invoice and bringing its total to $12,860. The...

Answered: 1 week ago

Question

★★★★★

how do you write this in dr. java? public void newResults() { 7/Declare an integer called twice //Declare a decimal variable called ave 1/Declare an integer called whoa 1/set twice to a doubled 1/set...

Answered: 1 week ago

Question

★★★★★

The comparative financial statements for Chinook Company are below Income statement Sales revenue Cost of goods sold Gross profit Operating expenses and interest expense Pretax income Income tax Net...

Answered: 1 week ago

Question

★★★★★

You are considering an investment in two different bonds. One bond matures in six years and has a face value of $1,000. The bond pays an annual coupon of 8.5% and has a 7% yield to maturity. The ot...

Answered: 1 week ago

Question

★★★★★

Project administrators have a similar role to the project manager. However, the project administrator must receive approval for their decisions by whom

Answered: 1 week ago

Question

★★★★★

Using PESTLE as a guide, explain the change management implications of not paying employees while they are checking out of the store. Assume that the store is located in a state that requires...

Answered: 1 week ago

Question

★★★★★

Over the next decade, Foleo Enterprises Pty Ltd grew exponentially, and whilst the increased demand for their Australian-made phones was welcome, it was unexpected and unplanned. James and Leon tried...

Answered: 1 week ago

Question

★★★★★

Pharoah Company reported the following information in its general ledger at December 31. All sales were on account. At the end of the year, uncollectible accounts were estimated to be 10% of accounts...

Answered: 1 week ago

Question

★★★★★

A jacketed-agitated vessel, fitted with a turbine agitator, is used for heating a water stream from 10C to 54C. The tank diameter D= 0.6 m, height H= 0.6 m, and agitator diameter D = 0.2 m. Saturated...

Answered: 1 week ago

Question

★★★★★

Brewpubs provide two products to customers food from the restaurant segment, and freshly brewed beer from the beer production segment. Both segments are typically in the same building, which allows...

Answered: 1 week ago

Question

★★★★★

The Zwatch Company manufactures trendy, high-quality moderately priced watches. As Zwatch's senior financial analyst, you are asked to recommend a method of inventory costing. The CFO will use your...

Answered: 1 week ago

Question

★★★★★

The Murphy Company prepared a trial balance on the following partially completed worksheet for the year ended December 31, 2007: Additional information: (a) The equipment is being depreciated on a...

Answered: 1 week ago

Question

★★★★★

On January 1, 2007 the Kelly Corporation acquired bonds with a face value of $500,000 for $483,841.79, a price that yields a 10% effective annual interest rate. The bonds carry a 9% stated rate of...

Answered: 1 week ago

Question

★★★★★

Matthews Company had five convertible securities outstanding during all of 2007. It paid the appropriate interest (and amortized any related premium or discount using the straight-line method) and...

Answered: 1 week ago

Question

★★★★★

4.9. For a normally distributed variable, verify that the probability between: (a) fi - a and /x + a equals 0.68 (b) fx 1.96(r and/x + L96(t equals 0.95 (c) /x 3o- and /x + 3(r equals 0.997 (d) /x ...

Answered: 1 week ago

Question

★★★★★

23. What are several procedures that increase attention to the left side in a person with spatial neglect?

Answered: 1 week ago

Question

★★★★★

4.7. Let y be the outcome of selecting a single digit from a random number table. (a) Construct the probability distribution for y. (This type of distribution is called a uniform distribution because...

Answered: 1 week ago

Previous Question Next Question