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

Finance

A Van can be insured for an annual gross premium of £3,780 with a discount of 35% no claims bonus.

Q1 Calculate the annual net premium.

Premium payments may be made monthly, but in this case a service charge of 3.7% is added to the annual net premium.

Q2 Calculate the amount of each monthly payment.

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