Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question
Carmen Viers lost everything to a fire and has spent the last eight weeks living in a motel room at a cost of
$4 comma 7414,741.
Her dwelling, which was destroyed as a result of a lightning strike, was insured with an HO-2 policy for
$208 comma 336208,336.
Prior to the loss, her home was valued at
$255 comma 000255,000,
her detached garage and poolhouse were valued at
$29 comma 48629,486,
and her personal property had an actual cash value of
$85 comma 12185,121.
To make matters worse she sustained $10,000 in injuries while trying without success to save her three Greyhound dogs valued at $6,000 each. How much of her total losses and expenses will be reimbursed if she has a $1,000 deductible?Question content area bottom
Part 1
The amount of total losses and expenses she will be reimbursed if she has a $1,000 deductible is
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