Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner's insurance policy is $450 for the coverage they need. Their insurance company offers an annual discount of 5 percent if they install dead-bolt locks on all exterior doors. The couple can also receive an annual discount of 2 percent if they install smoke detectors on each floor. They have contacted a locksmith, who will provide and install dead-bolt locks on the two exterior doors for $60 each. At the local hardware store, smoke detectors cost $8 each, and the new house has two floors. Dave and Ellen can install the smoke detectors themselves. a. What discount will Dave and Ellen receive if they install the dead-bolt locks? (Round your answer to 2 decimal places.) Annual discount for dead-bolt locks b. What discount will Dave and Ellen receive if they install smoke detectors? Annual discount for smoke detectors
Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner's insurance policy is $450 for the coverage they need. Their insurance company offers an annual discount of 5 percent if they install dead-bolt locks on all exterior doors. The couple can also receive an annual discount of 2 percent if they install smoke detectors on each floor. They have contacted a locksmith, who will provide and install dead-bolt locks on the two exterior doors for $60 each. At the local hardware store, smoke detectors cost $8 each, and the new house has two floors. Dave and Ellen can install the smoke detectors themselves. a. What discount will Dave and Ellen receive if they install the dead-bolt locks? (Round your answer to 2 decimal places.) Annual discount for dead-bolt locks b. What discount will Dave and Ellen receive if they install smoke detectors? Annual discount for smoke detectors
Chapter12: Tax Credits And Payments
Section: Chapter Questions
Problem 32P
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Transcribed Image Text:Dave and Ellen are newly married and living in their first house. The yearly premium on their homeowner's insurance policy is $450 for
the coverage they need. Their insurance company offers an annual discount of 5 percent if they install dead-bolt locks on all exterior
doors. The couple can also receive an annual discount of 2 percent if they install smoke detectors on each floor. They have contacted
a locksmith, who will provide and install dead-bolt locks on the two exterior doors for $60 each. At the local hardware store, smoke
detectors cost $8 each, and the new house has two floors. Dave and Ellen can install the smoke detectors themselves.
a. What discount will Dave and Ellen receive if they install the dead-bolt locks? (Round your answer to 2 decimal places.)
Annual discount for dead-bolt locks
b. What discount will Dave and Ellen receive if they install smoke detectors?
Annual discount for smoke detectors
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