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Question

Use the table for the percent of coverage to determine the (a) amount of insurance on the home, (b) amount of coverage for the garage, (c) amount of coverage for loss of use, and (d) amount of coverage for personal property.

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

Replacement value: $324,000; coverage: 80%.

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(a) $324,000×80%=$259,200\$ 324,000 \times 80\% = \$ 259,200

The amount of insurance on the home is the product of the replacement value and the coverage.

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