(1 point) A company is considering two insurance plans with the following types of coverage and...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
(1 point) A company is considering two insurance plans with the following types of coverage and premiums: Plan A Plan B $27,000 $32,000 Fire/Theft Liability Monthly Premium $195,000 $125,000 $53 $70 Premiums are sold in units. For example, one c buy one unit of plan A insurance for $70 per month and receive $27,000 in Theft/Fire insurance. Two units of plan A insurance cost $140 per month and give $54,000 in Theft/Fire insurance. The company wants at least $617,000 in coverage for Theft/Fire insurance and $3,395,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan B. units of plan A and What is the minimum monthly premium for the company? $ (1 point) A company is considering two insurance plans with the following types of coverage and premiums: Plan A Plan B $27,000 $32,000 Fire/Theft Liability Monthly Premium $195,000 $125,000 $53 $70 Premiums are sold in units. For example, one c buy one unit of plan A insurance for $70 per month and receive $27,000 in Theft/Fire insurance. Two units of plan A insurance cost $140 per month and give $54,000 in Theft/Fire insurance. The company wants at least $617,000 in coverage for Theft/Fire insurance and $3,395,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan B. units of plan A and What is the minimum monthly premium for the company? $
Expert Answer:
Answer rating: 100% (QA)
Premium sold in units Plan A70 B 53 Com pary wants ... View the full answer
Related Book For
Posted Date:
Students also viewed these finance questions
-
A company is considering two insurance plans with coverage and premiums shown in the table (for example, this means that $50 buys one unit of plan A, consisting of $10000 fire and theft, and $180000...
-
A company is considering marketing their classical music as music to study by. Is this a valid slogan? In a study conducted by some Statistics students, 62 people were randomly assigned to listen to...
-
A company is considering two mutually exclusive expansion plans. Plan A requires a $40 million expenditure on a large-scale integrated plant that would provide expected cash flows of $6.4 million per...
-
Recall the heat equation which we solved numerically T= = DTxx There we implemented an explicit numerical scheme (FTCS) which led to a conditionally stable solution - meaning that for certain time...
-
It has been said that Prices are like giant neon billboards that flash important information. Describe the types of information that market prices provide.
-
Which of the following phrases best describe best describes why Medb wanted the magic bull of Ulster? F. Spiteful vanity. G. Marital jealousy. H. Serious ambition. J. Childish determination.
-
Describe some of the fields or disciplines that are expected to be influenced by the development of workable and widely available quantum computers.
-
Palmerstown Company established a subsidiary in a foreign country on January 1, Year 1, by investing 8,000,000 pounds when the exchange rate was $1.00/pound. Palmerstown negotiated a bank loan of...
-
1. Evaluate how technology can provide the public with critical information during an incident. Provide at least two examples. 2. Discuss how technology can provide critical information in support of...
-
On January 31, 2018, The Hershey Company acquired Amplify Snack Brands, Inc., its largest business acquisition to date. Access Hersheys 2018 financial statements and media reports near the time of...
-
You have been hired as a consultant to make recommendations to the 4 firms listed below. Each of the competitors wants to maximize profits. Each row represents a separate firm. Apply the rules of...
-
BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $137,700 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA...
-
Why is it difficult to addresses a variety of readers who have different perspectives from those of the writer? What specific actions should you take to lessen or eliminate this issue?
-
According to lecture, our visual perception is strongly based on our own life experiences. This makes me wonder, how can we become more aware of our own visual perceptions of the world? Further, what...
-
Determine whether the following arguments are inductive or deductive. If an argument is inductive, determine whether it is strong or weak. If it is deductive, determine whether it is valid or...
-
Instructions You are to complete a ten page, typed, double-spaced essay on one of the following: Gender Differences in Communication The paper should include relevant research on your topic. You...
-
Q15 6 Points The following statements from a math quiz program generate random operands and operators for an arithmetic expression. import random a = random.randint(0,10) b = random.randint(0, 10) op...
-
The figure shows a bolted lap joint that uses SAE grade 8 bolts. The members are made of cold-drawn AISI 1040 steel. Find the safe tensile shear load F that can be applied to this connection if the...
-
What is the future worth of a series of equal yearly deposits of $5,000 for 7 years in a savings account that earns 5% annual compound interest if (a) All deposits are made at the end of each year?...
-
Maria Anguianos current salary is $65,000 per year, and she is planning to retire 25 years from now. She anticipates that her annual salary will increase by $3,000 each year. (That is, in the first...
-
You have purchased an equipment costing $20,000. The equipment will be used for two years, and at the end of two years, its salvage value is expected to be $10,000. The equipment will be used 6,000...
-
Use the Any Entry pattern to model entries in a spreadsheet style application. a. Draw a class diagram of using Any Entry pattern. b. Generate a significant use case for this context. c. Map the use...
-
List and explain essential properties of analysis patterns.
-
A pattern is not intended to represent a model for a complete system. Explain.
Study smarter with the SolutionInn App