Can someone review even more of my math finance quiz?

[charlot22]

I will be graded on whether or not work is shown as well, so please review both the answers and my format

17. Jim Smith, who lives in Territory 5, carries 10/20/5 compulsory liability insurance along with optional collision that has a $200 deductible. Jim was at fault in an accident that caused $1,800 damage to the other auto and $600 damage to his own. Also, the courts awarded $13,000 and $8,000 respectively, to the two passengers in the other car for personal injuries. How much the insurance company pay and what does is Jim’s share of responsibility?
Al's insurance will pay damage to that car much-less the $300 deductible which is $600 payment.
All-of-them will pay $4,000 property damage to the other party (maximum property damage limit is $5,000 - 3rd #).
All-of-them will pay $10,000 for bodily injury passenger 1 (maximum per fellow limit - Primary #).
All-of-them will pay $7,000 for bodily injury passenger 2. For a total bodily injury amount of $17,000 (maximum bodily injury per accident limit is $20,000 - second #).
The insurance will pay $600+$4,000+$10,000+$7.000 = $21,600
So,
Al pays that $300 deductible plus $5,000 (additional bodily injury from passenger 1) for a total of $5,300. Accident total is $26,900 ($4,000 PD, $900 collision, $22,000 bodily injury.
Al owes $5300 in total. He shall as-well think-of increasing that limits to a minimum of 100/300/50.


18. Jeff Sellers bought 200 shares of Radio Shack stock at $22.35. Eight months later, he sold the stock at $31.76. Assuming a 2% commission charge, what is the bottom line for Jeff?
Total share’s = 200
Price for all shares = 200*$22.35 = $4470
After eight months,
Sale price of stock = (200*31.76) + 2% of $4470 = $6352 + $89.4 = $6441.40

19. Sales at Sullivan Realty totaled 10 homes for the month. They were as follows:
$99,000
$109,000
$126,000
$158,000
$160,000
$175,000
$182,900
$185,000
$189,000
$210,000
Calculate the mean and median.

Mean = Sum of numbers /total numbers = $ 1,593,900/10 = $ 159,390
Median = 1/2 (n/2 + (n+2)/2)th term = ½ (5th term + 6th term) = ½(160,000+175,000)
Median = $167,500

20. The property of Al’s garage is worth $300,000. Al has a fire insurance policy of $180,000 that contains an 80% coinsurance clause. What will the insurance company pay on a fire that causes $210,000 damage? If Al met the coinsurance requirement, how much would the insurance company have to pay?
Price of Al’s garage = $300,000
Al has a fire insurance policy of $180,000 that contains an 80% coinsurance clause.
If the damage is $210,000
The payment paid by insurance company would be 80% of $210,000 = $168,000
In the case of coinsurance requirement, the payment that should be paid by the insurance company =$180, 000

21. Earl Miller plans to buy a boat for $19,500 with an interest charge of $2,500. Earl figures he can afford a monthly payment of $650. If Earl has to pay 36 equal monthly payments, by how much can he afford the boat per month?
Total cost of boat = $19,500 + $2500 =$22,000
Total monthly installments = 36
Per month installment = $22,000 /36 = $611.11
So. He can afford to pay $611.11 per month.

22. Peter Mabel sold a total of 400 Oatmeal ($1.50) and Wheat ($2) breads during the Labor Day weekend. How many of each did Pete sell if total sales were $700?
Price of total product sold by Peter Mabel = 400($1.50+$2) = 1400$
Let Oatmeal sold by peter be ‘x’ and wheat be ‘y’
1.50x + 2y = $1400
x + y = $700
Solving these two equations simultaneously, we get
Total Oatmeal sold = x = 0
Total Wheat sold = y= 700

23. Mel’s Furniture received an invoice dated September 27for five bedroom sets at $3,000 each. The invoice indicated a trade discount of 5/8/3. The seller of the furniture prepaid the freight of $200. Terms were 2/10 EOM. Assuming Mel pays on November 2, what amount would be paid? (Be sure to include the freight cost.)
Payment invoice for 5 bedroom sets = $15,000
Trade discount = 5:8:3
Amount prepaid as freight =$200
Terms were 2:10
Amount paid by MEL = $12,662.37 (including Freight cost)




24. Mobilee Oil Company accepted a $10,000, 120-day note, dated March 3, at 8.5% to settle a past due accounts receivable. Mobilee Oil discounted the note to raise cash on May 10 at a discounted rate of 9%. What proceeds did Mobilee Oil receive?
Mobile Oil Company accepted payment for 120 day note = $10,000
Interest rate to settle a past due accounts = 8.5%
Discount rate =9%
Mobilee Oil receive proceedings = $10,149.65

25. Ray Long wants to retire in Arizona when he is 70 years of age. Ray is now 50. He believes he will need $130,000 to retire comfortably. To date, Ray has set aside no retirement money. Assume Ray gets 14% interest compounded semiannually. How much must Ray invest today to meet his $130,000 goal?
Amount needed by Ray Long to retire comfortably = $130,000
Amount Ray must invest today to meet his goal = $130,000(P/F, 14%, 40)
= $6