Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. (1 point) a company is considering two insurance p

(1 point) A company is considering two insurance plans with the following types of coverage...

60.1K

Verified Solution

Question

Accounting

image
(1 point) A company is considering two insurance plans with the following types of coverage and premiums: Plan A Plan B Fire/Theft $25,000 $30,000 Liability $195,000 $133,000 Monthly Premium $75 $63 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75 per month and receive $25,000 in Theft/Fire insurance. Two units of plan A insurance cost $150 per month and give $50,000 in Theft/Fire insurance. The company wants at least $690,000 in coverage for Theft/Fire insurance and $4,069,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and units of plan B. What is the minimum monthly premium for the company? $

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Chemistry
1.2K views

What functional groups are in a receptor? Does the benzene ring in a drug or adrenaline...

Psychology
1.2K views

1.Describe how people in your culture respond to stressful or conflictive situations, as opposed to persons...

Accounting
1.2K views

Match each description with the appropriate term.       -       A.       B.   ...

Basic Math
1.2K views

Solve for x A x 2 5 only x only B x C x 3...

Statistics
1.2K views

Suppose that 45 of all babies born in a particular hospital are girls If 6...

Statistics
1.2K views

Identify the type of observational study cross sectional retrospective or prospective described below A research...

Algebra
1.2K views

Rewrite sin x in terms of sin x and cos x

Accounting
1.2K views

prepare a general overhead with the information in the paragraph and the picture. Prepare...

Accounting
1.2K views

DO NOT ENIER ANYTHING IN CELIS THAT ARE GREEN ClCRifnot,thenre-doyourcomparisons).PS.CRcannotbenegative.1.25001.1161(remember,afteryouhavecompletedthegrid,CRmustbe1000orless, Based on the above, which...

Accounting
1.2K views

Below are transactions related to Oriole Company. (a) The...

Accounting
1.2K views

eBook Show Me How FIFO and LIFO Costs Under Perpetual Inventory System The following units...

Accounting
1.2K views

ow method to analyze costs. Fulton's varlable cost per copy Is: (Round your final answer...