What is the actual cash value of the loss

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Reference no: EM132293291

1. Ashley purchased a dining room set for $5,000 and insured the furniture on an actual cash value basis. Three years later, the property had depreciated in value by 50 percent. The replacement cost of loss was $6,000. ignoring any deductible, how much will Ashley collect from her insurer?

2. Nicholas owns a laptop computer that was stolen. The laptop cost $1,000 when it was purchased 5 years ago. A similar laptop computer today can be purchased for $500. Assuming that the laptop was 50 percent depreciated at the time the theft occurred, what is the actual cash value of the loss?

Reference no: EM132293291

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