Difference between Actual Cash Value Coverage and Replacement Cost Coverage.

There is a big difference between Actual Cash Value Coverage and Replacement Cost Coverage. (Please answer Questions 2 & 3 BELOW), Financial Planning Problems. Show your work. Also, share any personal experiences you have had or someone you know has had with Renters Insurance. In addition, answer the following questions:

Who will pay if someone is injured at a party in your apartment or if your dog bites or trips someone visiting your property?

What if the pipes burst in the apartment above you because the occupants of the apartment above turned off heat completely when they went home for Christmas break. As a result, your clothes and furniture are destroyed? The occupants above do not have renters insurance. You have to move out for two weeks while repairs are made to your apartment. Where will you stay?

1. Computing Actual Cash Value Coverage. What amount would a person with actual cash value(ACV) coverage receive for two year-old furniture destroyed by a fire? The furniture would cost $1,000.00 to replace today and had an estimate life of five years
2. Determining replacement cost. What would it cost and insurance company to replace a family's personal property that originally cost $42,000.00? The Replacement parts cost for the items have increased 15%
3. Please answer Questions Page 403 Problems 7, 8 & 9. Answer questions A, B, and C. (ATTACHED BELOW)
4. PLEASE ANSWER THE FOLLOW QUESTION BELOW IN GREAT DETAIL
5. Using the internet to obtain information about money management. It doesn't seems to make sense to establish an investment program until credit card and installment purchases are reduced or eliminated. while most people are responsible and make payments when they are suppose to, some people get in trouble To help avoid this problem each of the following organizations has a home page page on the internet.

consumer credit counseling service provides information about how to manage consumer debt (https://www.consumercredit.com/illinois)

Green Path debt solution provides counseling for people with debt problems. (greenpath.com)

Choose one of the above organizations and visit its home page. then prepare a report that summarizes the information provided by the organization. Finally, it indicates if this information could help you manage your consumer debt.

Sample Solution