Jay Miller insured his pizza shop for $200,000 for fire insurance at an annual rate per $100 of $0.49.
Under what conditions must a distinction be made between money to be received today and money to be received in the future?
October 2, 2021While the decline and fall of Rome was gradual, according to “Roman Empire,” which of the following dates is given by historians for the actual fall of Rome?
October 2, 2021Jay Miller insured his pizza shop for $200,000 for fire insurance at an annual rate per $100 of $0.49.
Question 1
Jay Miller insured his pizza shop for $200,000 for fire insurance at an annual rate per $100 of $0.49. At the end of 10 months, Jay canceled the policy since his pizza shop went out of business. By using the table in the handbook, the refund to Jay is __________.
$980
$852.60
$127.40
$186.20
Question 2
Al Roy bought five bonds of Jort Co. 11 3/4 at 93.25 and four bonds of Inst. System 12×08 for 81.125. If the commission on the bonds is $2.50 per bond, the total cost of all the purchases is __________.
$4,662.50
$3,425.00
$7,930.00
$7,907.50
Question 3
Al Smith, who lives in Territory five, carries 10/20/5 compulsory liability insurance along with optional collision that has a $300 deductible. Al, who was at fault in an accident, caused $4,000 damage to the other auto, as well as $900 damage to his own. Also, the courts awarded $15,000 and $7,000 respectively to the two passengers in the other car for personal injuries. Al is responsible to pay a total of:
$5,000
$5,600
$2,000
$5,300
Question 4
Bill Jones buys a fishing rod that sells for $70 subject to a 6% sales tax and an excise tax of 10%. The total amount Bill paid for the rod is __________.
$77.00
$74.20
$81.20
$75.00
Question 5
Randy Smith bought 180 shares of a mutual fund with a NAV of $14.85. This fund has a load charge of 6%. What is the offer price?
$17.54
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