An insured purchased a dwelling policy with $40,000 of coverage. The insured also purchased an automatic increase in insurance endorsement that increases the face amount of the policy by 4% each year. What will the coverage amount be when the insured pays the renewal premium for the 3rd year the policy is in effect
A. $44,995.00
B. $41,600.00
C. $43,264.00
D. $40,000.00
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