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An insurance company charges the following annual premiums for property insurance:
Buildings Contents
£2.75 per £1,000 insured £4.20 per £1,000 insured.
A property owner wishes to insure a building valued at £142,000 and contents valued at £31,750.
(a) Calculate the total annual cost to the owner of insuring the buildings and contents.
A service fee of 6.25% of the total annual cost is charged when payment is made by 12 equal monthly installments. The service fee is included in the monthly payments.
(b) Calculate:
(i) the service fee
(ii) the amount of each monthly installment.
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Social Dynamo Corporation earned profits last year of $49 million on sales of $500 million. During the same period, its major competitor - EIO Corp.- enjoyed sales of $490 million and earned profits of $52 million.
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It has been proposed that toll collection on the Massachusetts Turnpike, a key commuter route into Boston from the west, be discontinued. Proponents argue that tolls have long ago paid for the cost of building the road
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Illustrate what are the reporting reasons on why gasoline prices have been fluctuating and trending upward for the past 12 months.
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