Jerry has an insurance policy with a premium of $150 per month. In June, he's in an accident and receives a bill with a total cost of $6000. His deductible is $1500, and his coverage limit is $4000.
How much total money will Jerry pay in the month of June?
Assume Lauren has the same exact accident, but her monthly premium she pays for the insurance policy is $250. Would you expect Lauren's deductible to be higher, lower, or the same as Jerry's? Why?
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