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BabaBlast [244]
3 years ago
15

The new owner of a house needs hazard coverage for $98,000. The annual premium is $0.44 per $100.00 of the amount insured. The i

nsurance company agreed to make the cost of the policy 2 ½ times the annual rate for a 3 year policy. How much would the monthly insurance payments be to pay for this policy?
Business
1 answer:
Kisachek [45]3 years ago
5 0

Answer:

monthly insurance payments = $29.94

Explanation:

given data

hazard coverage = $98,000

annual premium = $0.44 per $100.00

cost of the policy =  2 ½ times annual rate for 3 year policy

solution

we get here first normal premium cost per year that is

normal premium cost per year = $98000 × 0.44 × \frac{1}{100}    

normal premium cost per year = $431.2

and

insurance company is offering for new owner discount for purchasing a three year policy

so here the total cost for the three year is

total cost for the three = $431.2 ×  2.5 = $1078

and now we get monthly insurance payments for 3 year is

monthly insurance payments = \frac{1078}{36}

monthly insurance payments = $29.94

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Answer:

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Explanation:

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3 years ago
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Answer:

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<em>2. Ice-cream plants. </em>

<em>3. Building maintenance. </em>

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<em>9. Machinery. </em>

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Basically, the high-pressure water cleaning is a process that involves using water running at a very high pressure and sometimes high temperature to remove mold, dirt, dusts, loose paint, snow removal, grime etc from physical objects such as vehicles, equipments, buildings, billboards through the use of a plunger pump.

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As interest rates rise, the amount of money demanded decreases because the opportunity cost of holding money decreases. As interest rates rise, aggregate demand shifts to the left. The interest rate effect arises from the idea that higher price levels reduce the real value of household holdings.

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