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1 year ago

Under a straight life annuity, if the annuitant dies before the principal amount is paid out, the beneficiary will receive?

Business

1 answer:

bezimeni [28]1 year ago

8 0

Nothing the payments will cease.

Payments:

For the balance of the annuitant's life, a straight or pure life annuity will provide a set sum of income. Regardless of the amount of unpaid principal, this payment will end at death. There are no compensation or refunds made to survivors.

The beneficiary will receive the amount placed into the plan or the cash value, whichever is larger, if the annuitant passes away before the payment term.

Banknotes and coins (cash), deposits, and credit on an account with a financial institution or a comparable entity that can be run using payment instruments are all considered means of payment.

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You are torn between two saving accounts where to put your $1,500 in scholarship money for a year until you need it for next yea

mrs_skeptik [129]

Answer:

I would choose to invest in C-T bank since it offers $7.3675 more compared to Bank Wan

Explanation:

The two options can be expressed as shown;

Option 1: Bank Wan

A=P(1+r/n)^nt

where;

A=Total amount after a given time

P=Initial deposit

r-Annual interest rate

n=number of times the interest is compounded annually

t=number of years of the investment

In our case;

P=$1,500

r=2.5%=2.5/100=0.025

n=365 days

t=1 year

Replacing;

A=1,500(1+0.025/365)^(365×1)

A=1,500(1.02530

A=1,537.97

Total amount after a year=$1,537.97 for Bank Wan

Option 2: C-T Bank

P=$1,500

r=3%=3/100=0.03

n=2

t=1

Replacing;

A=1,500(1+0.03/2)^(2×1)

A=1,500(1.015)^2

A=1,545.3375

Total amount after a year=$1,545.3375 for C-T Bank

Total amount received to be received from C-T Bank-Total amount to be received from Bank Wan

=(1,545.3375-1,537.97)=$7.3675

I would choose to invest in C-T bank since it offers $7.3675 more compared to Bank Wan

7 0

3 years ago

Fixed expenses are $499,000 per month. The company is currently selling 5,000 units per month. The marketing manager would like

damaskus [11]

Answer:

decrease of $8,900

Explanation:

Use the following formula to calculate the net operating income

Net operating income = Sales - Variables cost - Fixed cost

At Current Sales Level

Sales = 5,000 x $160 = $800,000

Variable cost = 5,000 x $48 = $240,000

Fixed cost = $499,000

Placing values in the formula

Net Operaitng Income = $800,000 - $240,000 - $499,000 = $61,000

At Increased Sales level

Sales = 5,900 x ($160-$13) = $867,300

Variable cost = 5,900 x $48 = $283,200

Fixed cost = $532,000

Placing values in the formula

Net Operaitng Income = $867,300 - $283,200 - $532,000 = $52,100

Now calculate the change in net operating income

Change in net operating income = Net operating income at current sales - net operating income at increased sales = $61,000 - $52,100 = $8,900

Hence, Net operating income is decreased by $8,900

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3 years ago

3. Management activities include all of the following except:

7nadin3 [17]

Answer:

Explanation:

Management activities include Decision making

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3 years ago

Black market dealers are often legitimate businesses with questionable and illegal practices. (points : 2) true false

amm1812

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3 years ago

If the government imposes a maximum price for milk that is above the equilibrium price:

Keith_Richards [23]

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3 years ago