Carlyalexis641
13.06.2020 •
Business
Walther owns a home in flood-prone Paradise Basin. If there is no flood the home and land together will be worth $2400. If there is a flood, Walther's home will be destroyed but the land will still be worth $600. There is 1/10 of chance that Walther's house will be destroyed by the flood. Walther can buy flood insurance for $0.2 per dollar of coverage. Let and be the value of respective values of his land in the case of a flood or no flood. Suppose the equation represents the possible values of and that Walther can achieve by buying some amount of insurance. What is the value
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Ответ:
$2,554
Explanation:
The computation of value is shown below::-
Assume insurance purchase is N units
= $2,400 - $0.2 per dollar
= $600 - 0.2 M + M
= $600 + 0.8 M
$2,400 - $0.2 M = a - ($600 + 0.8 M) ÷ b
$2,400 - $0.2 M = a - $600 ÷ b - 0.8 ÷ b
now we will equate the situation
-0.2 M = 0.8 M ÷ b
-0.2 = 0.8 ÷ b
b = 4
Now, we will put the value of b to find out the value of a
a - $600 ÷ b = $2,400
a - $600 ÷ 4 = $2,400
a - $150 = $2,400
a = $2,400 + $150
a = $2,550
Now we will find out the a and b by putting the values
= a + b
= $2,550 + 4
= $2,554
Ответ:
Explanation:
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