Question: For Problems 2-4, evaluate insurance coverage on a video camera you bought 2 years ago for $800. Because of its age, the camera is now
For Problems 2-4, evaluate insurance coverage on a video camera you bought 2 years ago for \$800. Because of its age, the camera is now worth only $600. A similar video camera costs $750 new. Assume that your camera is stolen and you have insurance that covers theft. 2. What amount will you receive from the insurance company if the reimbursement is based on replacement cost? 3. What amount will you receive if reimbursement is based on value? 4. What amount will you receive if reimbursement is based on replacement cost and you have a $500 deductible policy? 5. ABC Insurance Company cancels Michelle Schreiber's policy. Based on an annual premium of $280,218 days of protection before cancellation, and a 365 -day year for prorating, what amount will be refunded
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