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How much money can the insurance company expect

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Reference no: EM132404053

A flood insurance company sells policies for $700 per year. If a customer's house is flooded, they are given $250,000 for repairs. The insurance company has calculated the chances that a house is flooded to be 12,500 over the year. How much money can the insurance company expect to make with each policy sold?

  • Round your answer to the nearest cent.
  • Enter an expected loss as a negative number.

Reference no: EM132404053

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