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2 years ago

9.3.2 Quiz: Estate Planning

1 answer:

7 0

The parents might set up a trust for a child because they want to enure an honest executor is chosen. Thus, the correct answer is B.

<h3>What is trust?</h3>

Trust is refer as association to be formed, to take care of all the wealth and property of an individual. This trust will take care of the property until the new responsibility holder arrives.

Parents set up trust for their children to protect their future, as they do not make their presence all the time. This trust provide financial security to the child if the parents are created trust.

Most parents want the benefits of their time and investment to be passed on to future generations, and setting up a trust is a secure way to ensure that your wishes are honoured when you die away.

Therefore, option B to ensure an honest executor is selected is the appropriate answer.

Learn more about Trust, here:

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What is NOT a reason a new product might fail?

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Appropriate channels selected is NOT a reason why a new product might fail.

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A client's respiratory status may be affected after abdominal surgery. The nurse documents the behavioral objective for this cli

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Answer: Demonstrates the technique of coughing and deep breathing

Explanation:

The behavioral objective the nurse documents or would document would relate to how he acts or live with these Illness, an example is in his coughing and breathing, how well he breath, she does a round of counting, monitoring how heavy he breaths too. When she monitors all these, she is then able to compute an analysis for the objective on how the sick patient is.

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3 years ago

On june 1, you borrowed $295,000 to buy a house. the mortgage rate is 4.25 percent. the loan is to be repaid in equal monthly pa

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Answer: The amount applied to the principal balance is <u>$1174.43</u>.

We first calculate the Equated Monthly Instalment (EMI) of the loan by using the following formula:

$\mathbf{PV = EMI * \left [\frac{1-(1+r)^{-n}}{r} \right]}$

where

r = Interest rate per period ; n = number of periods

$r = \frac{0.0425}{12}$

$n = 15 * 12 = 180$

Substituting these in the formula above we get,

$\mathbf{295000 = EMI * \left [\frac{1-(1+\frac{0.0425}{12})^{-180}}{\frac{0.0425}{12}}\right]}$

Solving we get,

$\mathbf{295000 = EMI * 132.9295092}$

$\mathbf{EMI = \frac{295000}{132.9295092}}$

$\mathbf{EMI = 2219.221313}$

Once we get the EMI, we calculate the amount that applies to the principal balance as follows:

Interest is calculated on the outstanding balance of each month. In the first month, the entire principal in outstanding. Hence we calculate interest on $295,000.

$\mathbf{Interest = 295000 * 0.003541667 = 1044.791667}$

$\mathbf{Amount applied to principal = EMI - Interest in dollars}$

$\mathbf{Amount applied to principal = 2219.221313 - 1044.791667 = 1174.429646}$

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3 years ago

What is the gain or loss from purchasing a put option on $100,000 face value Treasury bonds with a strike price of $90,000 (90 p

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Answer:

Profit of $8,500

Explanation:

Strike Price = $90,000

Premium = $1,500

Break even point = Strike price - Premium

Break even point = $90,000 - $150

Break even point = $88500

Profit = Break even point - Share price

Profit = $88,500 - $80,000

Profit = $8,500

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3 years ago

Crow Co. purchased some of the machinery of Hare Inc., a bankrupt competitor, at a liquidation sale for a total cost of $17,000.

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Answer:

Punch Press 12,228.97

Lather 4,076.32

Welder 2,494.71

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We use the fair value of the acquired goods and then compare with the cost:

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Lather fair value 5,000

Welder fair value 3,060

Total 23,060

All the Cost incurred to get the equipment read y for use:

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we now cross multiply for each product:

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Punch Press 12,228.97 debit

Lather 4,076.32 debit

Welder 2,494.71 debit

Cash 18,800 credit

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3 years ago