James 5

James has a personal injury protection policy that covers each person in, on, around, or under his car for medical expenses. Each person can collect up to $50,000. James is involved in an accident, and three people are hurt. One person has $23,000 in medical expenses, one has $500 in medical expenses, and James himself has medical expenses totaling $70,000.

How much money must the insurance company pay out for these three people?

Correct answer:

x =  73500 USD

Step-by-step explanation:

m=50000 a=min(m,23000)=min(50000,23000)=23000 USD b=min(m,500)=min(50000,500)=500 USD c=min(m,70000)=min(50000,70000)=50000 USD  x=a+b+c=23000+500+50000=73500 USD

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