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Kurt Simmons has 55/105/15 auto insurance coverage. One evening he lost control of his vehicle, hitting a parked car and damaging a storefront along the street.
Damage to the parked car was $6,400, and damage to the store was $16,320.
a. What amount will the insurance company pay for the damages?
Insurance payment $
b. What amount will Kurt have to pay?
Personal liability $
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You are considering two ways of financing a spring break vacation.
The net present value method of investment appraisal:
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