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Dect Soe the fowingpreblers ce yout anime th aks roe answers to the nearest hundredth, Indi annual premium: $1,800* 4 | famly premium = 2 ' Individual annual premium: $1,250 3, | Family premium ‘ ' Indl annual premium: $890 § i Famly premium « ‘ : Individual annul premium: $1,800= 7, i Family premium = 8 Individual annul premiom: $2400 = 9 Family prem « 1 Indvidl ania prem: $1,875 © 1h, Farly peri = 2 Indi ann prem: $1,210 8 13 Family premium = 14 Individual annual premium: $1,050= 15 Family premium = 16. ‘Accident #1: Personal bodily injury: Corey kramer = $32,000 lane Kramer = $31,000 Property damage: Automobile = $15,000, 17. Insurance pays for personal bodily injury: 18. Insurance pays for property damage: 19. Total paid by insurance company: 20, Total paid by indiveual causing accident: A. Determine the monthly premium for individual and family health coverage. The {employer will pay $100 of the monthiy premium for each employes. An edctional ‘580 is added to the individual monthly premitim for family coverage. Round all 8. Determine the amount of money the insurance company and the individuals wil Pay inthe following automobile accidents ll insured motorists have 25/50/10. ‘monthly premium ‘monthly premium monthly premivm = ‘monthly premium monthly premium ‘monthly premium ‘monthly premium ‘monthly premium monthly premium ‘monthly premium ‘monthly premium ‘monthly premium ‘monthly premium ‘monthly premium monthly premium ‘monthly premium jp 288 BUSINESS MATH USING EXCEL a Accident #2; Personal bodily injury: Dianne Greene = $22,000 lution Greene = $40,000 Property damage: ‘Automobile = $12,000 21. Insurance pays for personal bodily injury 22 Insurance pays for property damage: 2B. Tota paid by insurance company: 24. Total paid by individual causing accident: . Determine the amount of annual premium due for lie insurance. fl 275000 sme $795. z 25, 2H x 5325 = 26, SUMO 4 $2.95 Fi 9 27, MEMO 5 $2.50 28, $2000 x $3.00 = ¢ 5 } . Determine the amount of annual premium due for property insurance. 29. $110,000 coverage quoted at $6 per $1,000 = 30. $150,000 coverage quoted at $5.50 per $1,000 e 31. $45,000 coverage quoted at $1.10 per $1,000, 32, $80,000 coverage quoted at $3.50 per $1,000 33, $100,000 coverage quoted at $2.15 per $1,000 , Determine the amount of coverage needled to be equal to #0% of property value Property Needed Property Needed Value Coverage Value Coverage 34. $75,000 35. $100,000 = 36, $49,000 _ 37. $2,000,000 38. $350,000 _ 39. $495,000 40, $110,900 41. $157,800 42. $25,000 43, $62,000 CHAPTER 6 + Taxes and Insurance _ ooo Determine the amount paid by the insurance company on an 8096 coinsurance Pole for each of the following properties, Round rate of recovery to nearest ‘hole pareent before caleulating amount of insurance pais Coverage Value Loss Insurance Paid 44, 120,000 $150,000 $90,000 45, $288,000 $360,000 $200,000 46, $108,540 5135,675 $20,000 47. $184,000 $230,000 140,000 48. $640,000 800,000 $500,000, 49. $30,000 60,000 15,000 59. $200,000 $315,000 $210,000 51. $19,200 24,000 319,200 52. $40,000 $60,000 40,000 53, $88,000 110,000 560,000 G. Danielle Fox, a new employee at Hargrove, Estes, and ates law frm, decided to enol n te fm's health insurance program. The ahnual premium for Daniele fs $1,725. The fem pays $150 ofthe premium per month. What does Danielle pay? 54, Danielle pays: ter Daniele worked at Hargrove, Estes, and Yates, two years, she maried. To {3a her husband to er health insurance policy, she musk pay an additonal $110 [per month, Wht annual premium does Daniele now pay? 55. Daniele pays: Hargrove, Estes, and Yates built and moved into a new office bulding valued at $295,006. Their insurance company quoted them $3.90 per $1,000. What would ‘two year property insurance prem cost the im if the partners wanted fll, overage? 56, A two-year premium would be Each ofthe partners is provided an automobile owned by the firm. Estes was involved in an aceident, which was hs faut, while on the way to see a client. The frm has 50/100/25 automobile lability coverage. In the accident Hilary Martin Incared $5,000 of personal bodily injury. Her tree children riding in the car were ako hur. Jane had $12,000 of boul injury; Sally, $5,400; and Bobby, $8,300, ‘Damage to the Matin automobile vas $11,500, Answer the fallowing questions 290 BUSINESS MATH USING EXCEL ras 72016*