Question: Please note that this question is worth Double Marks You have a car valued at $42.000 You fear that you have a 5% chance of

Please note that this question is worth Double Marks You have a car valued at $42.000 You fear that you have a 5% chance of a car accident this year and would estimate that the car would lose 40% of its value in such a case. Given that your personal net wealth, aside from the car is $100.000 and that your utility function is given by the expression: U(w) 04 What is the maximum prioo you'd be willing to pay for Ful insurance (that would completely restore the value of the vehicle in the event of an accident/? Please give your answer in dollar terms to the panny, thus if you find the answer to be $45.2394235 please type 45.24]

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