Mark and Connie are insure for 80% of the replacement value of their home, which is valued at $245,000. How much is the policy amount on the

Question

Mark and Connie are insure for 80% of the replacement value of their home, which is valued at $245,000. How much is the policy amount on their house?

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niczorrrr 4 years 2021-07-25T18:10:41+00:00 1 Answers 16 views 0

Answers ( )

  1. thienthi
    0
    2021-07-25T18:12:40+00:00
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    Answer:

    • $196000

    Step-by-step explanation:

    • Value of the home = $245000
    • Insurance = 80%

    Policy amount:

    • $245000*80/100 = $196000

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