Question: Given the following data and using the pure premium ratemaking method, calculate the insurance rate (rounded to the nearest dollar). Incurred losses: $750,000 Earned exposure

Given the following data and using the pure premium ratemaking method, calculate the insurance rate (rounded to the nearest dollar). Incurred losses: $750,000 Earned exposure units: 12,500 Fixed expenses per exposure unit: $15 Profit and contingencies factor: 4%

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