ayalat371 ayalat371

11-03-2020
Business

contestada

Buyers Tom and Mary have arranged to take over the Joe and Sue’s insurance policy. The premium is $550 per year paid in advance on March 1. Closing on the property is set for June 11. According to the 365-day method, what is Joe and Sue's share of the insurance cost?

Respuesta :

andromache andromache

15-03-2020

Answer:

$394.79

Explanation:

Data provided in the question

Premium paid in advance on March 1 = $550

Closing date of the property = June 11

Total number of days = 365 days

So, the Joe and sue share of the insurance cost is

= Premium paid in advance × Given number of days ÷ Total number of days

= $550 × 262 days ÷ 365 days

= $394.79

The 262 days is calculated from the June 11 to March 1

Answer Link

Otras preguntas

Carly and Adam have been married for three years and are beginning to think about having children. Which vitamin should Carly make sure she is getting enough of

Is climate change real?

In Ophiuchus Corporation, 60% of the total revenue R is devoted to the advertising budget. Five-sixths of this advertising budget was spent on television advert

I need ASAP with it’s due today

HEALTH QUESTION! Which of the following defines obesogenic environment? an environment that helps people be fat an environment where the obesity rate is less th

Air traffic controllers are required to undergo random drug testing. A urine test detects the presence of amphetamines and barbiturates. The sensitivity of the

In the context of the external environment of an organization, the task environment: a.is formed by the interaction among a community of organizations. b.is c

Which of the following measurements is expressed to three significant figures? A. 0.0006 m B. 6066 mg C. 6.40 × 10-7 km D. 0.060 mm

AC=3x+3, AB=-1+2x, and BC=11 find x

Regional intergovernmental organizations are attractive to many countries because they