Lightning strikes home and starts a fire that destroys the structure and its contents. The lighting is the Proximate cause.
Subrogation is the term that describes most insurance companies' right to sue against a third party who has caused damage to the insured. This is done to recover the amount of damage paid to the insured by the insurance company for the damage.
The replacement cost covers the retail cost of replacing a broken, damaged, or lost item. The advantage here can be seen in the personal computer example. For example, his $1,500 laptop, purchased two years ago, is worth less than it is now brand new.
Umbrella policies are typically sold for minimum coverage of $1 million, but insurers offer these policies in increments of up to $5 million and sometimes in $100 million increments.
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Answer:
$38,536.3567
Explanation:
Given that,
Annual salary = $31,000
Growth rate = 2.2 percent per year
Time period = 10 years
Salary 10 years from today:
= Current salary × (1 + Growth rate)^{Period}
= $31,000 × (1 + 0.022)^{10}
= $31,000 × 1.24310828
= $38,536.3567
Therefore, the annual salary of this person ten years from today is $38,536.3567.
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Answer:
4. The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would increase.
Explanation:
Substitute goods are goods that can be used in place of each other.
If the price of electric automobiles rises, the automobile becomes more expensive for consumers. Consumers would reduce the quantity demanded of the electric automobile and shift its demand to gas powered automobiles.
As a result, the demand for gas automobiles increases and the equilibrium price would increase too.
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