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2 years ago

In an insurance contract, the person buying the insurance is called the

2 answers:

6 0

True explanation: one you have bought insurance you are insured to a house life plan etc, they company you bought the insurance from is the insurer because they are giving you the insurance

Natalka [10]2 years ago

6 0

This is A: true because when you buy the insurance you’re the insured and the person giving the insurance is the insurer

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10. Calculate the future value of $2000 in a. 5 years at an interest rate of 5% per year. b. 10 years at an interest rate of 5%

timofeeve [1]

Answer and Explanation:

The computation is shown below;

Given that,

Principal = P = $2000

As we know that

Future value (FV) = P × (1 + R)^n

here,

R = Rate of interest,

N = no of years

Now

A) N = 5, R = 5% = 0.05

FV = $2,000 × (1.05)^5

= $2,553

The Interest earned is

= $2,553 - $2,000

= $553

B) N = 10, R = 5% = 0.05

FV = $2,000 × (1.05)^10

= $3,258

The Interest earned is

= $3,258 - $2,000

= $1,258

C) N = 5, R = 10% = 0.10

FV = $2,000 × (1.10)^5

= $3,221

D) Option A

As in the part B the time period is 10 years as compared with the part A i.e. 5 years having the interest rate same

Also the cumulative interest would be greather than double as compared with part A

4 0

3 years ago

Suppose you owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or

lianna [129]

Answer:

Never, you will continue to be in debt

Explanation:

the interest per month are 1% of the unpaid amount:

3,000 x 1% = 30 interest per month

the minimum payment is 30 dollars

Therefore, by doing the minimum payment we are just coering the interest generated per month we are not doing any amortization on the principal Hence we cannot repay the debt.

3 0

3 years ago

Suppose the price of a tie rises from $45 to $55. using the midpoint method, what is the percentage change in price?

Vinvika [58]

By midpoint formula, the percentage change in the price of a tie = {( $55 - $45) / [($45 + $55)/2]} * 100 = (10/50) * 100 = 20 percent

4 0

3 years ago

The unemployment rate in an economy is 6 percent. The total population of the economy is 290 million, and the size of the civili

Tema [17]

Answer:

2. 9 million

Explanation:

We know that

Unemployment rate = Number of unemployed workers ÷ Civilian labor force

6% = Number of unemployed workers ÷ 150 million

So, the number of unemployed workers would be

= 150 million × 6%

= 9 million

We simply applied the unemployed rate so that the number of unemployed workers could come

All other information given is of no significance. So, ignored it

7 0

3 years ago

A The management of Gresa Inc. is reevaluating the appropriateness of using its present inventory cost flow method, which is ave

Zepler [3.9K]

Answer:

Gresa Inc.

Comparative Condensed Income Statements for 2017

under FIFO and LIFO.

FIFO LIFO

Sales 1176450 1176450

Cost Of Goods Sold 660,400 657, 200

Gross Profit 516050 539,500

Operating Expense $ 150,000 $ 150,000

Income before Tax $ 366,050 $ 389500

Income Tax (30%) $ 109815 $ 116850

Net Income $ 256235 $272650

Working :

Fifo Cost of Goods Sold= $ 10,000 + $168,000 + $ 150,000+ 156,000 + 176,400= 

Lifo Cost of Goods Sold= $ 224,000 + 156,000+ $ 150,000+127,200

Purchases were made quarterly as follows.

Quarter Units Unit Cost Total Cost

1 70,000 $2.40 $168,000

2 60,000 2.50 150,000

3 60,000 2.60 156,000

4 80,000 2.80 224,000

270,000 $698,000

Inventories Beginning (5,000 units) $10,000

Total net sales (253,000 units) $1,176,450

Ending (22,000 units)

Total cost of goods purchased (270,000 units) 698,000

3 0

3 years ago