T.J. bought fire insurance for his pizza shop for $200,000 at an annual rate per $100 of $.49. At the end of 10 months, T.J. canceled the policy since his pizza shop went out of business. Using the tables found in the textbook, determine the refund to T.J.    A. $852.60B. $127.40C. $186.20D. $980

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Asked Dec 17, 2019
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T.J. bought fire insurance for his pizza shop for $200,000 at an annual rate per $100 of $.49. At the end of 10 months, T.J. canceled the policy since his pizza shop went out of business. Using the tables found in the textbook, determine the refund to T.J.
    
A. $852.60
B. $127.40
C. $186.20
D. $980
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Expert Answer

Step 1

Given that,

T.J bought fire insurance is $200,000

Annual rate per $100 0f $0.49.

At the end of 10 months,

Determine the refund to T.J?

Step 2

T.J bought insurance 200000

The refund to T.J is $980.

...
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200000 = 2000 100 2000 (0.49) = 980

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