So one can make sure that a creditor of the insured isn't paid more than the exquisite mortgage at the time of declaration, the coverage proprietor should: Convertible insurance
A creditor is an entity, a business enterprise, or someone of a felony nature that has provided items, offerings, or a financial loan to a debtor. as soon as a creditor has given a loan, the fee is expected at a later date, generally agreed upon in advance.
A creditor is a man or woman or institution that extends credit to any other celebration to borrow cash normally by way of a mortgage agreement or contract. lenders including banks can repossess collateral like homes and automobiles on secured loans, and take borrowers to the courtroom over unsecured money owed.
For instance, a debtor/creditor relationship is if you take out a mortgage to shop for your house. then you as the property owner are a debtor, while the bank that holds your loan is the creditor. In trendy, if someone or entity has loaned cash then they are a creditor.
Learn more about creditors here:
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Answer:
(3) $3,750,000
Explanation:
The computation of the expect monthly sales to be as high is shown below:
Given that
Sales per month = $300,000
Royalty payments = 8% of sales
So, the expected monthly sales would be
= Sales per month ÷ Royalty payments percentage
= $300,000 ÷ 8%
= $3,750,000
We simply divided the sales per month by the royalty payment percentage i.e 8%
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