Answer:
The answer is: $6,900
Explanation:
To determine how much the insurance company should charge, we must first calculate the amount of money they expect to pay:
- total loss $200,000 x 0.002 = $400
- 50% loss $100,000 x 0.01 = $1,000
- 25% loss $50,000 x 0.1 = $5,000
Total $6,400
If the insurance company expects to pay $6,400 per year, they will have to charge $6,900 ($6,400 + $500) to cover their expenses and earn a $500 profit.
-5x - 25 = -8x + 10 (-10)
-5x -35 = -8x (+5)
35 = -3x (divide by -3x)
x = 11.6
I believe that the kind of example that Yohann is setting is the importance of financial planning. So before Yohann lost his job, he was thinking ahead and set a lot of money aside throughout his working years for a rainy day. He couldn't predict that something bad like a recession was going to happen, but he was still prepared for it nevertheless. The other answers do not apply here.
Answer:
Total cost of skipping practice and going to the movies = $24
Explanation:
Total cost of going to movie and skipping practice, will be inclusive of opportunity cost of earning from swimming lessons.
Here coach earns $15 per hour
Opportunity cost = $15 per hour for hours forgiven due to movie.
Real cost = $9 for movie entry.
The total cost of skipping practice and going to the movies = $15 + $9 = $24
Since its hour long practice, that has to be skipped, assumed the practice session of an hour is missed, in case it is more than an hour then $15 X number of hours + $9 entry fee of movie.
Since its hour long practice, total cost of skipping practice and going to the movies = $15 + $9 = $24