Question

In: Economics

Antwan rents an apartment that has a fair market value of $175,000.

Antwan rents an apartment that has a fair market value of $175,000. He also owns a car worth $25,000, furniture worth $10,000, clothing with a $3,000 replacement value, and about $5,000 of other personal belongings. When deciding on a renter’s insurance policy, which of the following policy maximums is most appropriate?

  • A : $18,000.

  • B : $43,000.

  • C : $218,000.

  • D : $15,000.

Solutions

Expert Solution

The belonging of Antwan totals at $(25+10+3+5)*1000=$43000

Since Antwan is a tenant, it does not matter how much he is paying as rent.

Thus, the correct answer is B

Rahul Sunny answered 2 years ago
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