BUSINESS HIGH SCHOOL

"A storm damaged Mr. Smith’s roof, allowing rainwater to leak into the house. Mold began to grow. It cost $5200 to repair the roof and $2500 to clean up the mold. Mr. Smith’s policy has a $500 deductible, and it excludes mold damage. How much did the insurance company pay Mr. Smith?"

Answers

Answer 1
Answer:

Answer: $4,700

Explanation:

Given that,

Repairing cost of roof = $5,200

Cost to clean up the mold = $2,500

Policy Deductible = $500

It was given that mold damage is excluded.

So, insurance company should pay Mr. Smith:

= Repairing cost of roof - Policy Deductible

= $5,200 - $500

= $4,700

Therefore, the insurance company pay Mr. Smith the amount equal to $4,700.
Answer 2
Answer:

Final answer:

Mr. Smith's insurance company paid him $4700 for roof repairs after a storm, deducting a $500 policy deductible. The mold cleanup costs were not covered by the insurance.

Explanation:

The question is asking for the amount Mr. Smith's insurance company paid him following a storm that damaged his roof. Initially, it cost Mr. Smith $5200 to repair the roof and an additional $2500 to clean up the mold. However, his insurance policy had a $500 deductible, and it did not cover mold damage. Therefore, the insurance company paid the amount for the roof repairs (which is $5200), minus the $500 deductible. Hence, the insurance company paid Mr. Smith $4700, as the mold damage costing $2500 was excluded from the policy.

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Answers

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Answers

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Explanation:

The options are

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Answer:

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Explanation:

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Answers

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