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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 151
Find the amount paid by the multiple carriers in the following problems. Note that the coinsurance requirement has not been met.
PARTIAL COVERAGE Family Dollar owns a building with a replacement cost of $1,800,000 that has fire and smoke damages of $310,000. The insurance coverage is split between Company 1 ($1,000,000) and Company 2 ($400,000). Find (a) the amount of the loss covered _____ and (b) the amount paid by each company. _____
PARTIAL COVERAGE Family Dollar owns a building with a replacement cost of $1,800,000 that has fire and smoke damages of $310,000. The insurance coverage is split between Company 1 ($1,000,000) and Company 2 ($400,000). Find (a) the amount of the loss covered _____ and (b) the 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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