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Lina20 [59]
3 years ago
10

Clayton is asking his life insurance producer about any potential taxation issues related to his $100,000 personal Whole Life po

licy. All of the following are TRUE, except:A. Since his policy is a personal policy, he cannot deduct the premiums he pays for the policyB. Annual increases in the policy's cash value are not taxable at the time they are credited to the policyC. Upon surrender of the policy, he will be taxed on any amount by which the cash value exceeds the cost basis (premiums paid) of the contractD. The interest that he pays on policy loans is tax-deductible
Business
1 answer:
Lesechka [4]3 years ago
6 0

The following are TRUE, except : The interest that he pays on policy loans is tax-deductible

Explanation:

Lifelong insurance is indeed a life insurance policy that is intended to remain in effect for the lifetime of the Insured, provided that the necessary premiums are reimbursed or on the maturity date (throughout the Commonwealth of Nation-states) and sometimes referred to as ' straight house ' or ' ordinary life'

A complete life policy offers your entire lifetime a certain amount of coverage. Once you pay the premiums, the profit will be earned on your death by your survivor. The entire policy on life always generates' cash value' as part of the money spent. The cash value can be reached as the funds rise.

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McBurgers Inc. noticed brown pellets in some areas of
Gelneren [198K]

The action that they should take are:

  • Store food away from walls and dispose of trash regularly.
  • Change humidity, light, and temperature conditions in the whole food service area.
  • Block all entry points to prevent pests from entering the kitchen or other storage areas.
  • Sweep the pellets away and clean the floor with water and a cleaner and apply floor sanitizer.

<h3>What is pest infestation?</h3>

Pest Infestation is the state of being invaded or overrun by pests or parasites.

To avoid pest infestation, it is important to keep the house clean.

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8 0
2 years ago
Elaine takes out a $100,000 mortgage on December 1, 1997. Elaine will repay the mortgage over 20 years with level monthly paymen
Dmitrij [34]

Answer:

I prepared an amortization schedule using an excel spreadsheet. The original monthly payment was $836.44. After the 120th payment, the remaining principal balance was $68,940.64. Since she didn't pay anything for 1 year, the new principal balance will be $68,940.64 x (1 + 8%) = $74,455.89

I prepared another amortization schedule for the remaining 9 years, and the monthly payment is $969.32. She will pay off the loan in 108 months.

Download pdf
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>
<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark"> pdf </span>
8 0
3 years ago
Assume the price elasticity of demand (Ed) is 0.4 for gasoline in the long run. Some argue that we need a 50% reduction in gasol
dybincka [34]

Answer:

125%

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

Let x = percentage change in price

o.4 = 50 / x

x = 125

7 0
3 years ago
Alex manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday,
statuscvo [17]

Answer: b. shoe-leather costs

Explanation:

This is the shoe-leather cost inflation. It refers to the time and effort expended by people to ensure that they are able to avoid their cash losing too much value to inflation. Includes for instance, going to the bank multiple times because you are holding little cash on hand so it does not lose value.

It is named shoe-leather costs as a play on words because it is assumed that the time and effort put will result in walking around alot and degrading the quality of your shoes.

3 0
3 years ago
A project is expected to generate annual revenues of $117,700, with variable costs of $74,800, and fixed costs of $15,300. The a
GarryVolchara [31]
It’s C $44,248 I hope this helps .
7 0
3 years ago
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