The time period between the date a note is discounted and the maturity date is called the ____________________ period.
Fill in the blank(s) with correct word
Q. 2Harriett needs temporary property insurance to cover her home for a period of 20 days. Based on the table in the book what would be her short-rate premium if the annual premium is 998.00?
Q. 3The actual interest rate charged on a discounted note is called the ____________________ interest rate.
Fill in the blank(s) with correct word
Q. 4The Croyden Laundry company had multiple carrier fire insurance coverage on its plant and equipment in the amount of 3,750,000. The coverage was: 1,500,000 policy held by Metropolitan, 1,200,000 policy held by Kemper, and 1,050,000 held by Prudential. How much of a 326,400 loss would Kemper be responsible for?
Q. 5The amount of money that the borrower receives at the time a discounted note is made is known as the ____________________.
Fill in the blank(s) with correct word
Q. 6Luigi's Pizzeria has insured its building with multiple companies for a total of 342,000, of which 132,400 is with Rockford's. Assuming that all coinsurance requirements have been met, how much would Rockford's be responsible for in the event of a 152,000 fire?
Q. 7The process of selling a promissory note to a bank at any time before maturity is known as ____________________ a note.
Fill in the blank(s) with correct word
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