Computing Claim amount for Actual Cash Value coverage
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What amount would a person with actual cash value (ACV)coverage receive for 2-year-old furniture destroyed by a fire? The furniture would cost $1,000 to replace today and had an estimated life of 5 years.
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Solution Summary
This solution describes the steps to calculate the claim amount based upon Actual Cash Value coverage.
Education
- BEng (Hons) , Birla Institute of Technology and Science, India
- MSc (Hons) , Birla Institute of Technology and Science, India
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