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slamgirl [31]
3 years ago
8

You have an insurance policy with a $300 premium and a $500 deductible. How much should you expect to pay the insurance company

each month for coverage?
Business
1 answer:
Aleksandr [31]3 years ago
8 0
<h3>Hello there!</h3>

Your question asks how much you would be paying for insurance with the information given.

<h3>Answer: $300</h3>

The reason why your answer would be $300 is because that's the premium that you would be paying for. The "premium" means the amount you're paying for coverage. The premium could have different coverages that make up the price. The insurance would cover the liabilities that you might have.

People tend to get confused with deductibles. You don't pay monthly for deductibles. Deductibles are a payment that someone needs to pay before an insurance company starts paying for your needs that your coverage provides. For example, if I brake a bone, I would first pay the $500 deductible before the Insurance company starts covering my costs. This is the ensure that the insurance company gets some type of money before they start helping you.

<h3>I hope this helped you out!</h3>
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8 0
2 years ago
In one or two sentences, describe which is greater: gross pay or net pay.
Dafna1 [17]
Gross pay<span> is almost always </span>greater<span> than </span>net pay<span>, as </span>net pay<span> is after taxes, benefits, etc. </span>Gross pay<span> is what the company tells you that they will </span>pay<span> you.</span>
8 0
3 years ago
Read 2 more answers
Exercise 3-22 Recording costs of labor LO P2 Prepare journal entries to record the following production activities. Incurred $75
Paladinen [302]

Answer:

WIP                            75,000 debit

       Factory Payroll Payable 75,000 credit

Factory Overhead     20,000 debit

       Factory Payroll Payable 20,000 credit

Explanation:

The direct labor is capitalized through work in process inventory to lter become finished good once the product is finished.

While the indirect labor is determinated as actual factory overhead to be later compare against the applied overhead

7 0
2 years ago
Find the following values for a lump sum assuming annual compounding. a. The future value of $800 invested at 7% for one year b.
Dmitrij [34]

Answer:

For the first 2 we calculate the future value:

(A)856

(B)1,122.04

(C) and (D) thre present value will be 800

Explanation:

Principal * (1+ r)^{time} = Ammount

800* (1+ 0.07)^{1} = Ammount

856

800* (1+ 0.07)^{5} = Ammount

1,122.041358

\frac{856}{(1 + 0.07)^{1} } = 800

\frac{1,122.04}{(1 + 0.07)^{5} } = 800

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3 years ago
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Answer:

The correct answers are

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