Royce has $15 with him and spends $12 to buy his favorite comics. He has $3 left, which he deposits in the bank. Which number wi
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Answer:
35.35%
Step-by-step explanation:
If there were no deductibles, the expected claim payment would be:
If the collision insurance claim is under $2,000, then the insurer would not pay anything, but if X > $2,000, then the insurer would pay X - $2,000. The new expected value is:
The percentage reduction on the claim payment is:
There was a 35.35% reduction.