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Howard Hane Had Taken Out a $130,000 Fire Insurance Policy

Question 54

Multiple Choice

Howard Hane had taken out a $130,000 fire insurance policy for his new restaurant at a rate of $.82 per $100. Nine months later, Howard canceled the policy and decided to move his store to a new location. The cost of the premium to Howard is:


A) $1,066
B) $863.46
C) $1,606
D) $836.64
E) None of these

Correct Answer:

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