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Sagot :
When the insurance company want a plan with a deductible of $4,000, they need to charge a minimum of $18000 for premiums.
What is a deductible?
It should be noted that a deductible simply means the amount of money that is paid out of the pocket of the policy holder.
From the information given, each accident costs $18,000 on average. Therefore, this is the minimum amount of premium.
When they want a plan with a premium of $1,000, the amount that they'll need to charge for deductibles will be:
= (4000/18000) × 1000
= $220
Learn more about deductible on:
https://brainly.com/question/5306277
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