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daser333 [38]
3 years ago
5

Suppose that you only have liability and comprehensive car insurance and you allow your roommate (who doesn't have car insurance

) to drive your car to run an errand. What will likely happen if there is a single-car accident causing moderate damage to your car while your roommate is driving?
Business
2 answers:
Alisiya [41]3 years ago
7 0
What will happen is that YOUR INSURANCE COMPANY WILL NOT PAY FOR THE DAMAGES.
Liability car insurance covers damages and injuries to third party's car only, it does not cover damages to the insurance owner's car. Comprehensive car insurance only cover damages done to one's car as a result of theft, fire, natural disaster, vandalism and other such acts, but does not cover damages that occur as a result of collision.
tiny-mole [99]3 years ago
3 0

<u>There will no coverage in case of any type of car accident causing moderate damage. </u>

Further Explanation:

Comprehensive Insurance:

Comprehensive insurance is a type of auto insurance where the coverage includes the damage of the car in the following cases:

• Theft

• Fire

• Falling object

• Animal damage

• Vandalism

• Damage by riot

Comprehensive insurance does not include the damage from the accident. In some states of the country, it is known as “other than collision” insurance. The insurance cover will not include the damage from (1) medical insurance expenses after the accident, (2) accident from another person’s vehicle, (3) accident of the vehicle.

Single car accident causing moderate damage:  

In the given case, the car accident is caused by the roommate of the insured person. The person has opted the liability and comprehensive insurance. The insurance company does not provide the coverage for the accident in case of comprehensive insurance. Therefore, there will be no coverage in the given case as the damage is occurred due to the accident (collision).

<u>Thus, there will no coverage in case of any type of car accident causing moderate damage. </u>

Learn more:

1.      Learn more about the out-of-pocket expenses

brainly.com/question/1362335

2.      Learn more about the insurance rules

brainly.com/question/6075135

3.      Learn more about the insurance cover

brainly.com/question/1362335

Answer details:

Grade: Senior School

Subject: Business Studies

Chapter: Insurance

Keywords: Suppose, that, you, only, have, liability, and, comprehensive, car, insurance and, you allow, your, roommate, (who doesn't have car insurance), to drive, your, car, to run, an, errand, what, will, likely, happen, if, there, is a, single-car, accident, causing, moderate, damage, to, your, car, while, your, roommate, is, driving.

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Answer:

Antonio and Replacement of Golf Clubs

a. He should cash the CD and use the proceeds to finance part of the golf clubs.

b. The reason is that he would pay more in in-store financing totaling $37.06 per annum than the net interest he would generate from the CD totaling $23.18 per annum.  And Antonio would incur a net loss of $13.88 if the CD was renewed unlike the $5.74 if the CD were not renewed.

Explanation:

Option 1: Renew Certificate of Deposit (CD):

Interest earned  = $33.48 ($600 * 5.58%)

Taxes                  =   10.30 ($33.48 * 30.75%)

Net Income         = $23.18

Cost of in-store financing = $37.06 ($710 * 5.22%)

Net Loss(overall) = $13.88 ($37.06 - $23.18)

Option 2:

Sale-off of CD = $600

Net financing required = $110 ($710 - $600)

Cost of financing = $5.74 ($110 * 5.22%)

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3 years ago
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sdas [7]

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5 0
3 years ago
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Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing
Lady bird [3.3K]

Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.

Explanation:

  • Bob inspires his employees to follow a vision, facilitates change, and creates a strongly positive climate, all while stressing performance. Bob has helped to create a(n) caring/civilized culture.
  • Developing a caring culture
  • Be optimistic and upfront to your goals.
  • Focus on strengths, not weaknesses
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3 years ago
The additional dining space will occupy space next to Olaf’s that was recently rented to a tenant. By claiming the space for the
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Answer:

$12,146

Explanation:

The computation of present value of this opportunity cost is shown below:-

Net After tax Operating Profit Per month = Rent space per month × Profit margin on the renting the space percentage

= $1,000 × 30%

= $300

Project is for 4 Years

Total months = 4 × 12

= 48 Months

Interest Rate Per month = 9% ÷ 12

= 0.75%

As per the question the Rent is Received at the start of the month

So Present Value of this opportunity cost = $300 (1 + PVAF (0.75%,47))

= $300 × ( 1 + 39.486)

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3 0
3 years ago
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dalvyx [7]

Answer:

b. She receives $10,000

Explanation:

Taxes owed = (1/4 of income) - $15,000.

Taxes owed = (1/4 x 20,000) - $15,000.

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Hence, she receives $10,000 from the government.

A negative income tax is a system where people earning below a certain amount receive supplemental pay from the government instead of paying taxes to the government.

8 0
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