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Sati [7]
3 years ago
15

Eleanor paid an annual premium of $2,000 in total coverage for her homeowner's insurance, including $250,000 in damage coverage

and $250,000 in liability coverage. Six years into her policy, a tree fell on Eleanor's home and caused $40,000 worth of damage. Eleanor's insurance company paid the claim. Did the cost of the benefit of transferring the risk to the insurance company outweigh the cost of the premium? (5 points)
Business
1 answer:
erastovalidia [21]3 years ago
3 0

Answer:

Yes, the benefit of transferring the risk to the insurance company did outweigh the cost of paying insurance premiums.

During six years Eleanor paid $2,000 per year in insurance premium, totaling $12,000. After the tree damaged Eleanor's house, the cost of the repairs was $40,000, which is much higher than $12,000.

You might be interested in
The term for a rise in prices of general consumer goods is
skad [1K]
C. Inflation

If you require clarification on why, feel free to comment! 

3 0
3 years ago
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $287,000, has an estimated useful life of 8 years and an es
aliina [53]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Purchasing cost= $287,000

Useful life= 8 years

Estimated residual value= $37,400

To calculate the annual depreciation under the straight-line method, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (287,000 - 37,400) / 8

Annual depreciation= $31,200

<u>Depreciation remains constant during the useful life of the asset.</u>

We can calculate exactly the annual depreciation for the first year.

Year 1= (31,200/365)*360= $30,772.60

4 0
3 years ago
Knowing that $45,500 is a very good price for an LS-400, Mike is the first customer to appear at the Larson lot on Saturday, Oct
Grace [21]

Answer:

Yes

Explanation:

Based on the information provided within the question we can say that Yes, the dealership is contractually bound to sell Mike the car at that price. This is assuming that the ad handed to the dealership by Mike is an actual ad that was designed and published by the dealership. If this is the case the dealership must uphold their price or it will be considered false advertisement and Mike would have a basis on which to sue the business.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Lean production uses a pull system. To enable this pull process to work smoothly, lean production demands what? check all that a
Digiron [165]

Lean production demands

- high levels of quality at each stage of the process

- strong vendor relations

- fairly predictable demand for the end product

Lean production is a manufacturing technique aimed usually at decreasing instances in the manufacturing gadget as well as response times from suppliers and to customers. it's miles intently associated with another concept referred to as simply-in-time production.

Lean production is a manufacturing method focused on removing waste, in which waste is described as something that does not upload value for the consumer. despite the fact that Lean's history is manufacturing, it's miles applicable to all sorts of employer and all an organization's techniques.

Lean manufacturing improves efficiency, reduces waste, and will increase productivity. The benefits, therefore, are manifold: increased product best: stepped forward efficiency frees up personnel and assets for innovation and quality control that would have previously been wasted.

Learn more about Lean production here : brainly.com/question/14298317

#SPJ4

5 0
1 year ago
Suppose Natasha currently makes $50,000 per year working as a manager at a cable TV company. She then develops two possible entr
Vilka [71]

Answer:

It will be better to pursue the soap business as it provide a 20,000 economic gain.

Explanation:

currently Natasha wages: $50,000

soap business:

sales revenue 465,000 - cost = 395,000 = 70,000 accounting profit

less 50,000 opportunity cost: 20,000 economic gain

Internet opportunity as it will compete with the local TV company shw currently works, most probably will be fired or quit the job.

3,275,000 revenues - 3,250,000 cost = 25,000 accounting profit

less 50,000 opportunity cost: (25,000) economic loss

It will be better to pursue the soap business as it provide a 20,000 economic gain.

4 0
3 years ago
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