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Your insurance company has a policy to insure personal property. Assume you have a laptop computer worth 1,500 , and there is a 4 %

Your insurance company has a policy to insure personal property. Assume you have a laptop computer worth 1,500, and there is a 4% chance that the laptop will be lost or stolen during the next year. What would be a fair premium for theinsurance? (We are assuming that the insurance company earns noprofit.)

A fair premium for the insurance would be $___

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