1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
frosja888 [35]
2 years ago
10

C has a $100,000 traditional whole life insurance policy with a $30,000 cash surrender value. He applies for and receives a $10,

000 policy loan from the insurer.
Business
1 answer:
Ivenika [448]2 years ago
3 0

Answer:

If C were disabled, his beneficiaries would receive $70,000, less any outstanding interest charges

Explanation:

Policy loans can generally amount up to 100% of the cash surrender value of the policy, in this case C only requested $10,000 (1/3 of the cash value). This type of loan is fully collateralized by the cash value of the policy and the borrower can even miss some payments or pay on a later date because interests keep adding.

This type of loan can carry a fixed or variable interest rate, depends on the insurer.

If C surrenders his policy, he will receive the total cash surrender value minus the loan amount = $30,000 - $10,000 = $20,000

If C dies, his beneficiaries would receive the full benefits minus the loan amount = $100,000 - $10,000 = $90,000

You might be interested in
Which of the following colors is highly variable and can be either cool or slightly warm, depending on how it is used?
Phoenix [80]

Explanation:

Dark blue with dark red

3 0
2 years ago
Which trait do MOST employers look for when hiring new employees?
LenKa [72]

Answer: Punctuality

Explanation:

4 0
2 years ago
Alfred lost his 3-year-old camera. It cost him $150 three years ago and had a life expectancy of 6 years. Alfred has actual cash
salantis [7]

Answer:

insurance company will pay $75 to Alfred.

Explanation:

given data

Actual cost of camera = $200

Alfred cost of camera = $150

Life expectancy = 6 years

solution

we get here first Remain life of camera that is

Remain life of camera = 6 years  - 3 years

Remain life of camera = 3 years

and

now we get here current cost of the camera that is

current cost of camera = Alfred cost of camera × (Remain life of camera ÷ Life expectancy)    ........................1

put here value and we get

Current cost of camera = $150   ×   \frac{3}{6}

Current cost of camera = $75

so that insurance company will pay $75 to Alfred.

5 0
2 years ago
Wilson Products uses standard costing. It allocates manufacturing overhead (both variable and fixed) to products on the basis of
mrs_skeptik [129]

Answer:

Please see attached solution

Explanation:

a. Total manufacturing overhead costs allocated $356,400

b. Variable manufacturing overhead spending variance $40,500U

c. Fixed manufacturing overhead spending variance $17,600U

d. Variable manufacturing overhead efficiency variance $19,500F

e. Production volume variance $39,200F

Please find attached detailed solution to the above questions

5 0
3 years ago
Which payment option takes money out of your bank immediately?.
Oduvanchick [21]

Answer:

auto pay takes money out automatically

3 0
2 years ago
Other questions:
  • ABC Company is unloading coal from a barge on the Mississippi River. The barge contains 1,760 tons of coal. The coal is shoveled
    13·1 answer
  • The promise of a reward motivates me to accept additional task
    10·1 answer
  • erekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 3,200 machine-hours V
    5·1 answer
  • Describe an example of an equity investment that can also produce income. (1-3 sentences)
    14·1 answer
  • Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respec
    5·1 answer
  • Granger has a boat worth $4,000 and a car worth about $8,000. He also has roughly $500 worth of tools. What is the value of asse
    5·1 answer
  • A part of a business's message that distinguishes it from all its competitors
    13·2 answers
  • A bond has $1,000 face value, coupon rate of 5.6%, and yield to maturity (YTM) of 5.8%. It will mature in 15 years and the inter
    15·1 answer
  • What advice or tips does Lauren Haugen have for people who are learning to manage their finances?
    10·1 answer
  • Alonso paid for repairs on his car, and 3 5 of the bill was for labor costs. How much was the total bill if the cost of the labo
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!