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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 141
Find the amount paid by the multiple carriers in the following problems. Note that the coinsurance requirement has not been met.
PARTIAL COVERAGE A building with a replacement cost of $1,200,000 has fire damages of $420,000. The insurance coverage is split between Company A ($200,000) and Company B ($300,000). Find (a) the amount of the loss covered _____ and (b) amount paid by each company. _____
PARTIAL COVERAGE A building with a replacement cost of $1,200,000 has fire damages of $420,000. The insurance coverage is split between Company A ($200,000) and Company B ($300,000). Find (a) the amount of the loss covered _____ and (b) amount paid by each company. _____
Explanation
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Start by finding the total face value o...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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