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Use rational exponents to simplify. Assume that all variables represent positive real numbers.
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Premium Rate
The rate charged for an insurance policy, typically a periodic payment based on the level of coverage and risk factors.
Coinsurance Clause
A provision in an insurance policy that requires the insured to bear a portion of the costs of a claim, typically after the deductible has been met.
Premiums
Payments made regularly to an insurance company for coverage, often monthly or yearly.
Coinsurance Clause
A provision in an insurance policy that determines the percentage of the cost a policyholder is responsible for after the deductible is met.
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