Brian wants to buy a motorcycle and is planning to get motorcycle insurance. Suppose the average accident rate is 0.1, and the average expenses incurred on accidents is $38,000. The insurance plan has a yearly premium of $1,000 and a deductible of $4,000.
If after 4 years of insuring 100 people, 9 motorcycle drivers had an accident, where does the company stand after money has been taken in and paid out for this group of 100 insured people?
$85,500
-$36,000
$94,000
$58,000
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