All categories

3 years ago

Jan pays $70 each month for her auto insurance policy. This regular payment is called a.

1 answer:

8 0

Jan pays $70 each month for her auto insurance policy. This regular payment is called PREMIUM.

Premium is the payment made by the insured party to the insurer. It primary pays the insurer for bearing the risk of payout in the event that the insurance agreement coverage is needed. Premium payment may be monthly, quarterly, semi-annually, or annually.

You might be interested in

In 1895, the first Putting Green Championship was held. The winner’s prize money was $220. In 2016, the winner’s check was $1,46

ad-work [718]

Answer:

(i) 7.54%(Approx).

(ii) $8,995,138.42(Approx).

Explanation:

Given that,

Winner’s prize money = $220

In 2016,

Winner’s check = $1,460,000

We use the formula:

$A=P(1+\frac{r}{100} )^{n}$

Where ,

A=future value

P=present value

r=rate of interest

n=time period.

n = 2016 - 1895

= 121

(a)

$1,460,000=220(1+\frac{r}{100} )^{n}$

$(\frac{1,460,000}{220})^{\frac{1}{121} }=(1+\frac{r}{100})$

(1+r/100) = 1.075440035

r = (1.075440035 - 1) × 100

= 7.54%(Approx).

(b)

n = 2041 - 2016

= 25

$A=P(1+\frac{r}{100} )^{n}$

$A=1,460,000(1+0.075440035)^{25}$

= 1,460,000 × 6.161053698

= $8,995,138.42(Approx).

4 0

3 years ago

In an imaginary economy, consumers buy only razors and cologne. The fixed basket consists of 6 razors and 4 bottles of cologne.

Hitman42 [59]

Answer:

The answers are:

The CPI for 2009 is 100 (since it is the base year)
The CPI for 2010 is 129.17
The inflation rate for 2010 is 29.17%

Explanation:

<u>CPI basket for 2009</u>

6 razors x $20 per razor = $120
4 bottles of cologne x $30 per bottle = $120

The total value of the CPI basket for 2009 is $240

<u>CPI basket for 2010</u>

6 razors x $25 per razor = $150
4 bottles of cologne x $40 per bottle = $160

The total value of the CPI basket for 2010 is $310

The CPI for 2009 is 100, since it is the base year
The CPI for 2010 = (CPI basket 2010 / CPI basket 2009) x 100 = ($310 / $240) x 100 = 129.17
The inflation rate for 2010 = [(CPI basket 2010 / CPI basket 2009) - 1] x 100 = (1.2917 - 1) x 100% = 29.17%

3 0

3 years ago

he most important function of packaging is a. offering convenience to customers. b. attracting the attention of the customer. c.

zalisa [80]

Answer is b. i just took it

3 0

3 years ago

Organizations use ______ such as commissions, profit-sharing, bonuses, and stock options to attract and retain top performers.

Softa [21]

Answer:

The answer is incentives

Explanation:

Hope this helps:)....if not then sorry for wasting your time and may God bless you:)

7 0

2 years ago

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b

Andrew [12]

Answer:

Adjusted cash balance = $18650

Explanation:

given data

Debit balance = 19,525

May bank statement deposit = $17,800

Deposit in transit = $5,950

Outstanding checks = $5,100

bank service fees not recorded = $50

NSF check not yet recorded = $825

to find out

adjusted cash balance

solution

Adjusted cash balance will be here

Adjusted cash balance = Debit balance - bank service fees not recorded - NSF check not recorded

Adjusted cash balance = 19525 - 50 - 825

Adjusted cash balance = $18650

and

adjusted book balance = Balance as per pass book + deposit in transit - outstanding checks

adjusted book balance = 17800 + 5950 - 5100

adjusted book balance = $18650

7 0

4 years ago