Question

7. Assume this policy has a deductible of $1,000 and a coverage limit of
$15,000. If tirere are personal property losses of $7,000 for a covered
event, which best describes how much both parties pay?*

Answer 1

Answer:

Insured person pays $1,000; insurance company pays $6,000

Step-by-step explanation:

Answer 2

Both parties pay $9000.

What is PEDMAS rule?

PEDMAS rule states that the order of operation starts with the parentheses first or the calculation which is enclosed in brackets. Then the operation is performed on exponents(degree or square roots) and later we do operations on division & multiplication and at last addition and subtraction.

Policy has a deductible of $1,000 and a coverage limit of $15,000.

Tirere are personal property losses of $7,000 for a covered event

Based on the given conditions, formulate

= 1000 + 15000 - 7000

= 16000 - 7000

= 9000

Both parties pay $9000.

Find out more information about the PEDMAS rule here:

https://brainly.com/question/24086845

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