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mina [271]
2 years ago
8

If a married couple have a joint account with a market value of $1 million and a debit balance of $600,000, all of which is in s

ecurities, how much coverage would this account have?
Business
1 answer:
Cerrena [4.2K]2 years ago
7 0

$400,000 equity will be the coverage provided for the account.

<h3>What is a joint account?</h3>

A joint account is just another saving account, but the difference is that it is shared between two people, i.e, two people are the owner of that account this is generally shared between two partners or a spouse.  

The maximum bandwidth for a joint account is $500,000; but, a margin account only covers the equity, thus the debit balance is deducted from the market value. from deducting the market value of $1 million from the debit balance of $600,00  to leave $400,000 equity.

Learn more about the joint account, here:

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The amount of product available to the market is known as which of the following? Demand Interest Supply Resources
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Supply

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FIllmore Company began operations on Sept. 1 by purchasing $4,400 of inventory and $750 of cleaning supplies. During the month,
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Jose put $200 in a savings acount, where he will earn 10% interest annually. At the end of the year how much money will Jose hav
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Because 10 * 20
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you have the choice of two equally risk​ annuities, each paying​ $5,000 per year for 8 years. one is an annuity due and the othe
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What is an Ordinary Annuity?

An ordinary annuity is a series of equal payment made at the end of consecutive periods over a fixed length of time. An standard annuity's payments can be paid as frequently as weekly, although in reality they are typically made monthly, quarterly, mid-annually, or yearly. An annuity due is the reverse of a Ordinary annuity in that payment are issued at the start of each period. Although they are connected, these two payments schedules differ from the financial instrument known as an annuity.

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