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Math Help - Insurance policy

  1. #1
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    Insurance policy

    Assume that according to an insurance company policy the company pays N. Euros if ab went (e) occurs . What should be the premium ( cost charged to customer) of the policy in order that the companys expected profit is 10% of N??



    Any help appreciated thanks
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  2. #2
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    Joined
    Mar 2010
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    assume that the event E occurs with some probability p.
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  3. #3
    Junior Member
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    Mar 2010
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    Could anyone confirm answer or show it wrong I got 1.1^np
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