(Answered) A lorry can be insured for an annual gross premium of

Economics

A lorry can be insured for an annual gross premium of £3,150 less a discount of 45% no claims bonus.

(a) Calculate the annual net premium. Premium payments may be made monthly, but in this case a service charge of 2.5% is added to the annual net premium.

(b) Calculate, giving your answer to the nearest penny, the amount of each monthly payment

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Macroeconomics, Economics

Category:- Macroeconomics
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