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9 July, 18:25

3. Coverage on a One-Vehicle Accident. Bill Converse of Rexburg, Idaho, recently had his truck slide off a gravel road and strike a tree. Bill's vehicle suffered $17,500 in damage. The truck has a book value of $40,000. Bill carried collision insurance with a $500 deductible. How much will Bill be reimbursed by his policy?

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  1. 9 July, 18:29
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    The answer is $17,000

    Explanation:

    From the question given, we recall the following:

    Bill vehicle suffered damages of = $17,500

    The truck book value is = $40,000

    Bill carried collision insurance with a = $500

    Then,

    The Amount to be reimbursed = Damages-Deductible amount

    17,500-500 = $17,000

    Therefore, the amount bill we be reimbursed by his policy is $17,000
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