The furniture on an actual cash value basis

Reference no: EM131047898

Ashley purchased a dining room set for $5000 and insured the furniture on an actual cash value basis. Three years later, the set was destroyed in a fire. At the time of loss, the property had depreciated in value by 50 percent. The replacement cost of a new dining room set at the time of loss was $6000. Ignoring any deductible, how much will Ashley collect from her insurer? Explain your answer.

Reference no: EM131047898

Questions Cloud

Who wants to create a web-based inventory management system : Individual Project for NIT3112 & ECB2124. IMS is an IT consulting firm who wants to create a web-based inventory management system so as to help its clients manage their inventory anywhere anytime

Calculate the value of the symmetric key : Alice chooses a random integer RA= 3578 and sends Bob the value: (23578 mod 25307) = 6113. Note that this value 6113 can be computed very quickly from 2 and 3578 in approximately 1000 steps.

Depreciated at the time the theft occurred : Nicholas owns a laptop computer that was stolen. The laptop cost $1000 when it was purchased five years ago. A similar laptop computer today can be purchased for $500.

Write paper about why do bussinesses need to develop ethics : Write a term paper about Why do bussinesses need to develop ethics programs? You will write a Research Paper on a topic relating to business ethics.

The furniture on an actual cash value basis : Ashley purchased a dining room set for $5000 and insured the furniture on an actual cash value basis. Three years later, the set was destroyed in a fire.

A contract with the white shark fishing company : Jake borrowed $800,000 from the Gateway Bank to purchase a fishing boat. He keeps the boat at a dock owned by the Harbor Company. He uses the boat to earn income by fishing. Jake also has a contract with the White Shark Fishing Company to transpor..

Function that given a list of five or more numbers : finds the five smallest and five largest numbers in the list withoutsorting the entire list & plot the smallest vs. the largest.

Identify and list all relevant entities and relationship : Tip: If you do not have access to ER modeling software or a diagramming tool like Visio or OmniGraffle, you can simply create diagrams in a presentation tool like PowerPoint. This is an essential skill which is used in the field.

The purpose of other-insurance provisions : a. What is the purpose of other-insurance provisions?b. Give an example of the pro-rata liability clause.

User Account

All Pages