Harrington Insurance Company insures four moving vans for National Moving Company. Annual premiums for the four trucks are: Truck A = $3,480; Truck B = $3,360; Truck C = $2,640; and Truck D = $4,100. Harrington Insurance Company charges a short-rate penalty of 15%. At the end of the second month, National Moving Company sold trucks A and B and canceled their insurance. At the end of the fourth month, National Moving Company sold truck C and canceled its insurance. Compute the amount National Moving Company paid Harrington Insurance Company for insurance during the year.

Question

Quizplus · Accepted Answer

The Answer of Harrington Insurance Company insures four moving vans for National Moving Company. Annual premiums for the four trucks are: Truck A = $3,480; Truck B = $3,360; Truck C = $2,640; and Truck D = $4,100. Harrington Insurance Company charges a short-rate penalty of 15%. At the end of the second month, National Moving Company sold trucks A and B and canceled their insurance. At the end of the fourth month, National Moving Company sold truck C and canceled its insurance. Compute the amount National Moving Company paid Harrington Insurance Company for insurance during the year.

Harrington Insurance Company Insures Four Moving Vans for National Moving