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zimovet [89]
2 years ago
8

An insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000. The insured dies 15 yea

rs later when the cash value is $5,000. What amount will the beneficiary receive
Business
1 answer:
Irina-Kira [14]2 years ago
3 0

The amount that the beneficiary will receive when the insured purchases a 20-Pay Life Policy with a face amount of $25,000 is $25000.

<h3>What is insurance?</h3>

Insurance simply means a means of protection from financial loss. It's risk management.

In this case, the insured purchases a 20-Pay Life Policy with a face amount of $25,000 and an annual premium of $1,000 and the insured dies 15 years later when the cash value is $5,000. The amount that the beneficiary receive is $25000.

Learn more about insurance on:

brainly.com/question/25855858

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since the bonds were sold at 110, their price was $5,000,000 x 110% = $5,500,000

the difference between the face value and the actual market price = $5,500,000 - $5,000,000 = $500,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

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