Explain the purpose of property damage coverage.

Explain the following provisions in the building and personal property coverage form:

• a. Covered property
• b. Additional coverages
• c. Optional coverages

Answer the following questions:

• a. Briefly explain the coverage for medical payments to others (Coverage F) in Section II of the homeowners policy.
• b. Identify the people who are covered for medical payments to others (Coverage F) in the homeowners policy.

The business income (and extra expense) coverage form has a number of policy provisions. Explain the following provisions:

• a. Business income loss
• b. Coverage of extra expenses

All of the following statements are true about passive smokers except

a. They are nonsmokers.

b. They are smokers who are unaware of the dangers of smoking.

c. They develop some of the same health problems as smokers.

Kim Bataglino applied for a 30-year, $95,000.00 mortgage loan. She would repay the loan in equal monthly payments. The interest rate would make the monthly payment on a$1,000.00 loan equal $6.32. What is the total amount she will pay on her$95,000.00 loan?

Add. 98.34 + 17.626

Ellen and Tim Hinojosa reached an agreed-upon price of $140,000 for the purchase of a house. They made a 10% down payment and had two options for financing the remaining amount: at 5.5% for 25 years or at 6% for 20 years. Which mortgage results in a higher amount of interest paid and by how much?

For the first monthly payment, compute the (a) interest, (b) amount for principal, and (c) new principal. Lois Isbel buys a "fixer-upper" house. She obtains a $46,000.00 mortgage loan with a 5% interest rate. Her monthly payment is$269.10.

Daniel and Angie Callan are buying a $480,000 home. Their annual housing expenses are: mortgage payments,$38,304; real estate taxes, $9,240; annual insurance premium,$1,766; maintenance (for example, plumbing repairs, painting, insulation), $1,275; and utilities (heating, electricity, telephone, and so on),$4,600. The lost interest on the down payment is $4,800, and the tax savings is$6,400. What is the Callans' average monthly expense?

$$\begin{array}{|l |l|} \hline & \textbf{Percent of}\\ \textbf{Coverage} & \textbf{Coverage}\\ \hline \text{Personal property} & 50\%\\ \text{Loss of use} & 20\%\\ \text{Garage and other} & \\ \text{structures} & 10\%\\ \hline \end{array}$$

Use the table to find the percent of coverage.

The Callahans’ home. Replacement value is $38,500. 90% coverage on home. What is the amount of insurance? What is the amount of coverage for personal property?

Wade Torres is leasing a domestic midsize sedan. The $1,599.00 due at signing includes title and fees. His monthly lease payment will be$159.00 plus 6% sales tax. If the total lease cost is $7,666.44, for how many months does the lease last?

The rate of assessment in Manchester, New Hampshire, is 100%. The tax rate is $16.85 per$1,000.00 of assessed value. What is the real estate tax on a piece of property that has a market value of $186,000.00?

Find the percent. 80% of 30,000