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Natalka [10]
4 years ago
9

Harry, the annuitant of a non-qualified tax deferred annuity with $40,000 cash value chooses the Life Income with Refund Payment

Option when he annuitizes the policy. After receiving $1,000 each month for 80 months, Harry suddenly dies. How much will his beneficiary, his wife Lucille, receive?
Business
1 answer:
sveticcg [70]4 years ago
6 0

Answer:

$0

Explanation:

Since Harry chose a non qualified tax deferred annuity, upon his death all annuity payments will stop and his beneficiaries wouldn't receive any money.

For Lucile to receive any money after Harry's death, he should have chosen another type of annuity, like an annuity with 10 or 20 years certain.

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today, boyd crowder signed loan papers agreeing to borrow $4,523.31 at 9 percent compounded monthly. the first monthly loan paym
MrRissso [65]

Loan payments must be made before the loan is paid in full $5178.24.

Loan Payment means the amount payable by the Borrower to repay a Loan under the terms of the Loan Agreement, Debenture, and Bond Mortgage.

There are three payment methods for a mortgage: equal installments, equal installments, and fixed equal installments. The repayment method depends on a variety of conditions, such as whether you want to pay the same amount each month or whether you want to pay it back within a certain period of time.

Using EMI formula:-

P×R × (1 + r )^n ÷ (1 + r )^n -1

we find number = 36 month.

Hence, total Loan paymeny

36x 143.84 =

$5178.24

Learn more about payments here:-brainly.com/question/2151013

#SPJ4

3 0
2 years ago
Jay Coleman just graduated. He plans to work for five years and then leave for the Australian "Outback" country. He figures that
vekshin1

Answer:

The answer is 3. $27,178.

Explanation:

You have to calculate for each year a new principal to be compounded.

Therefore the formula for next period's principal will be:

P_{n}=P_{n-1}*(1+r)+D

Where

P_{n} is the principal for next period,

P_{n-1} is the principal for this period,

r is the interest rate,

D are the deposits made into the savings account at the end of the period. (therefore it will only compound in next period).

The first year the principal will be the graduation gift:

P_{1}=2500*(1.0775)+3500=6193.75

At the end of the second year Jay will have:

P_{2}=6193.75*(1.0775)+3500=10173.77

The third year:

P_{3}=10173.77*(1.0775)+3500=14462.23

The fourth year the amount being deposited changes from $3,500 to $5,000:

P_{4}=14462.23*(1.0775)+5000=20583.05

The fifth year is the last year:

P_{5}=20583.05*(1.0775)+5000=27178.24

The result is rounded to $27,178.

7 0
4 years ago
John contracts with Kelly to buy a certain number of cattle for Kelly’s Circle K ranch. John makes a deal with Lawson, the owner
ivann1987 [24]

Answer:

The answer is A, "Indemnification".

Explanation:

Indemnification is the right that people have in a contract in the case of one of the parties fails with their obligations. It pays for actions caused by negligence in some cases, it also is agreed in order to protect one of the parts of the contract for financial loss or any other damages caused.

7 0
3 years ago
Greg needed to earn some money to help pay for
son4ous [18]

It would depend on which Greg you are referring to.

<span>If it’s Greg from Cabin Fever, he needed more money to buy gifts.</span>

If it Greg from the Diary of a Wimpy Kid, he needed more money to buy food, more specifically cookies.

5 0
4 years ago
When is a goodwill impairment loss recognized? a. Annually on a systematic and rational basis. b. Never When both the fair value
gulaghasi [49]

Answer:

The correct answer is letter "C": When both the fair value of a reporting unit and its associated implied goodwill fall below their respective carrying values.

Explanation:

Impairment Loss is the decrease in an asset's net carrying value that exceeds the future undisclosed cash flow it should generate. The net carrying value is an asset's acquisition cost minus depreciation. Impairment occurs when a company sells or abandons an asset that is no longer beneficial.

Thus, <em>a goodwill impairment loss is recognized when the goodwill's net carrying value is below its fair value and the expected cash flow it was to generate.</em>

7 0
3 years ago
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