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Question

What amount of loss did the insurance company pay?

Solution

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Step 1

1 of 6In this task we have to calculate the amount of loss paid by an insurance company. We'll do that using a spreadsheet software.

We are given the value of the home of $\$50,000$, the face value of policy of $\$35,000$, the coinsurance policy of $80\%$ and the loss amount of $\$2,000$.

*How do we find the amount paid by the insurance company?*

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