Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Experience the convenience of finding accurate answers to your questions from knowledgeable experts on our platform.
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
#SPJ1
We hope this information was helpful. Feel free to return anytime for more answers to your questions and concerns. We hope our answers were useful. Return anytime for more information and answers to any other questions you have. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.
