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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 81
In the following application problems, find the amount of the loss paid by (a) the insurance company and (b) the insured. Assume an 80% coinsurance clause.
SALVATION ARMY LOSS The main office of the Salvation Army suffers a loss from fire of $45,000. The building has a replacement cost of $550,000 and is insured for $300,000.
(a) _____
(b) _____
SALVATION ARMY LOSS The main office of the Salvation Army suffers a loss from fire of $45,000. The building has a replacement cost of $550,000 and is insured for $300,000.
(a) _____
(b) _____
Explanation
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Recall the formula, Finding Amount Insu...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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