Actuarial science An individual has car insurance for a vehicle worth 400,000. Usually, this...
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Finance
Actuarial science
An individual has car insurance for a vehicle worth 400,000. Usually, this policy would have a deductible of 10,000. However, the insured paid an additional premium in order to waive the deductible. In total, he pays an annual premium of 20,000. What option position does this insured have, and what is the strike price?
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