Can sum1 pleaz help me wit dis ACCOUNTING/FINANCE Question? & Explain How 2 Do?

[maddox]

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 does the insurance company pay, and what is Jim's share of responsibility?

[nann]

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 does the insurance company pay, and what is Jim's share of responsibility?

10/20/5 =
Maximum coverage for Bodily Injury Liability per person/Maximum coverage for Bodily Injury Liability per accident/Maximum coverage for Property Damage Liability per accident
*Note: All numbers are in thousands.

600 + 1,800 + 13,000 + 8,000 = $23,400 total damages
Jim pays the first $200 as a deductible.
Jim will also have to pay $3,000 for the amount over $10,000 paid to the first passenger. The insurance company is responsible for the rest.

Jim = $3,200
Insurance Company 23,400 - 3,200 = $20,200