The owner of property valued at $150,000 insured the property for $75,000 for one year at a premium rate of $4.90 per thousand. The policy carried a 75% coinsurance clause. A fire caused $56,250 in damages. Compute the amount the property insurance and repairs for fire damage cost the insured that year.
If the British pound is valued at 0.507949 per U.S. dollar, how much would an American import company pay in U.S. dollars for merchandise valued at 789,400 pounds?
Rounded to the nearest month, how long before a scheduled payment of $10,000 would a payment of $5,000 be an economically equivalent alternative? Assume money is worth 5% compounded annually.