*HELP FOR A TEST*You are responsible for an automobile accident. Use the information below to determine: 1. the total amount your liability insurance will pay for the accident
2. the total amount your collision insurance will pay for the accident
3. the amount of additional damages you are responsible for as a result of the accident
You and the driver of the other car were the only people involved in the accident. There
were no injuries from the accident.
. You have a 50/100/50 liability insurance policy with no deductible
• You have collision insurance with a deductible of $500
• The other car was valued at $25,000 and requires $10,000 in repairs
• Your car was valued at $20,000 and requires $15,000 in repairs