____________________ interest uses 365 days as the time factor denominator in the simple interest formula.
Fill in the blank(s) with correct word
Q. 2Riverside Roller Skating had property valued at 435,000 and insured for 225,000. The fire insurance policy contained an 80 coinsurance clause. What was the coverage ratio? (Round to the nearest tenth of a percent)
Q. 3The total payback of principal and interest is known as the ____________________ of a loan.
Fill in the blank(s) with correct word
Q. 4Chirag's Greenhouse owns a building valued at 225,000, but has decided to insure it for only 110,000. His insurance policy stipulates coinsurance of 50. If a fire were to cause 170,000 in damage, how much would the insurance company pay on the claim?
Q. 5The amount of money being borrowed or invested is known as the ____________________.
Fill in the blank(s) with correct word
Q. 6Stratosphere Technologies has a property insurance policy with an annual premium of 4,828. The policy was canceled by the insurance company, and Dow was given a regular refund of 1,207. How many months was the policy in force?
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