Find the amount of simple interest on a loan of 2,500 at 4.44 interest for 12.75 months. (Round to the nearest cent)
A) 113.31
B) 2,617.94
C) 117.94
D) 121.87
Q. 2Drake's Bakery sustained a fire loss of 2,260,000. They had multiple carrier fire insurance coverage on the building in the amount of 9,120,000. The coverage was: 3,465,600 policy held by Colonial, 2,736,000 policy held by The Hartford, and 2,918,400 policy held by Continental. Which of the three companies were responsible for 723,200 of the loss?
Q. 3The owner of a service station receives a loan of 8,500 at 10.5 for 7 months. Find the amount of simple interest.(Round to the nearest cent)
A) 520.63
B) 621.25
C) 489.65
D) 753.28
Q. 4Ronald Salti has auto liability coverage of 15/30/10, no deductible comprehensive, and 250 deductible collision. He was at fault in an accident and ran into Susan Bell's car. In the court settlement, Susan was awarded 25,000 for bodily injury and 15,000 in property damages. Ronald's car sustained 2,800 in damages. How much will the insurance company be responsible to pay?
Q. 5The financial officer of Toys and Noise arranges a loan of 7,500, at 8.5 interest, for 33 months. Find the amount of simple interest. (Round to the nearest cent)
A) 1,560.21
B) 1,753.13
C) 8,480.21
D) 5,460.13
Q. 6Lois Larson has liability coverage in her automobile insurance policy of 50/100/50. She was at fault in an accident and two people in another car, Barbara and John Gibbons, were injured. In the lawsuit settlement, Barbara was awarded 30,000 and John, 70,000. Damages to the Gibbons' car amounted to 8,600. How much of the total claim will be Lois's responsibility?
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