Calculate the Short-Term Premium and Refund for the Policy Canceled

question 51

Short Answer

Calculate the short-term premium and refund for the policy canceled by the insured. $$\begin{array} { l l l l } \text { Annual } & \text { Canceled } & \text { Short-term } \\\underline{\text { Premium }} &\underline{ \text { After } }&\underline{ \text { Premium }} & \underline{\text { Refund }} \\\$ 262 & 25 \text { days } & &\end{array}$$

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