Property valued at $150,000 was insured for $100,000. The policy contained a 60% coinsurance clause. A fire caused $45,000 in damages. Compute the amount the insurance company paid for repairs.

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The Answer of Property valued at $150,000 was insured for $100,000. The policy contained a 60% coinsurance clause. A fire caused $45,000 in damages. Compute the amount the insurance company paid for repairs.

Property Valued at $150,000 Was Insured for $100,000