What was the rate of return on the 216 dollar million paid

Reference no: EM13219894

Water damage from flooding related to hurricane Sandy in two northeastern Cities resulted in damages estimated at $216 million. As a result of the claimant payouts, insurance companies raised homeowners' insurance rates by an average of $118 per year for each of the 320,000 households in the affected coastal cities. If a 20-year study period is considered, what was the rate of return on the $216 million paid by the insurance companies?

Reference no: EM13219894

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