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kykrilka [37]
3 years ago
15

Which of the following types of mortgages is unlikely to be held by a life insurance company? a. one to four family b. farm rela

ted c. commercial d. multifamily e. All of these choices are likely to be held by a life insurance company.
Business
1 answer:
Zepler [3.9K]3 years ago
4 0

<em>Answer</em>:

<u>b. farm related</u>

Explanation:

<em>Remember</em>, a Life insurance company provides a certain level of compensation in the event of loss to subscribers of it's policy, it is focused on premiums that cover persons (not farm related losses).

If it involves farm related insurance then it is not the focus area of the life insurance company.

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The five-year sales quote includes quarterly payments of $37,200 at a 7.6% interest rate. The price of the acquisition is $614,184.40.

<h3>Do you mean by PMT payment?</h3>

PMT stands for "payment," therefore the name of the function. A PMT method can estimate your monthly payments, for instance, if you are looking for a $30,000 car loan with a two-year term and an annual interest rate of 7%.

<h3>In the fv formula, what is PMT?</h3>

PV = present value, and FV=PMT(1+i)((1+i)N - 1)/i Future Value (FV) Payment per period (PMT) I = percent per period interest rate N is the number of cycles.

Quarterly Payment = PMT = $37,400

Interest Rates = r = 7.6% per year = 0.076 per year = 0.076 / 4 = 0.019 per quarter

Number of years = 5 years

Number of Payment = n = 5 years x 4 quarters per year = 20 quarters

PV = PMT x (1 - [1 / (1 +r)^n]) / r

PV = $37,200 x (1 - [1 / (1 +0.019)^20]) / 0.019

PV = $614,184.40

Learn more about PMT: brainly.com/question/12890163

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