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Margarita [4]
3 years ago
10

What is the main difference between whole life insurance and term life insurance?

Business
1 answer:
Stella [2.4K]3 years ago
8 0

Whole life insurance is a type of program that you pay for your "whole life." The premiums tend to stay level on whole life policies.

On the other hand, term life insurance gradually gets more expensive as you get older. Term life insurance is simply the pure cost of insurance with no savings element.

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Handy Man, Inc., has zero coupon bonds outstanding that mature in eight years. The bonds have a face value of $1,000 and a curre
AnnZ [28]

Answer:

5.657%

Explanation:

Data provided:

Face value = $1,000

Current market price = $640

Time of maturity, t = 8 year

Now,

the compounding formula is given as:

Face value = Current amount × (1+\frac{r}{n})^{nt}

where,

r is the rate i.e pretax rate of debt

n is the number of times the interest is compounded i.e for semiannual n = 2

thus, on substituting the values, we get

$ 1,000= $ 640 × (1+\frac{r}{2})^{2\times8}

or

1.5625 = (1+\frac{r}{2})^{16}

or

(1+\frac{r}{2}) = 1.0282

or

r = 0.05657

or

pretax cost of debt = 0.05657 × 100% = 5.657%

3 0
3 years ago
Select the correct answer.
kondor19780726 [428]

Answer:

I went with c

Explanation:

3 0
2 years ago
Read 2 more answers
QS 11-9 Recording warranty repairs LO P4 On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty
prisoha [69]

Answer:

<em>On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts</em>

<u>Recording of revenue:</u>

Cash $490 (debit)

Revenue $490 (credit)

<u>Recording of Warranty granted :</u>

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00  (credit)

$490 × 10% = $49.00

<em>On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory</em>

<u>When warranty is subsequently received:</u>

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

Explanation:

<em>On September 11, 2016, Home Store sells a mower for $490 cash with a one-year warranty that covers parts</em>

<u>Recording of revenue:</u>

Cash $490 (debit)

Revenue $490 (credit)

<em>We Recognise Revenue to depict transfer of control of mower</em>

<u>Recording of Warranty granted :</u>

Assurance Warranty expense $49.00 (debit)

Warranty Provision $49.00  (credit)

$490 × 10% = $49.00

<em>There is no option for customer to take the warranty or not, so this is a service warranty.The warranty is measured at the best estimate of expenditure required to settle the obligation that is at 10% of sales.</em>

<em>On July 24, 2017, the mower is brought in for repairs covered under the warranty requiring $34 in materials taken from the Repair Parts Inventory</em>

<u>When warranty is subsequently received:</u>

Warranty Provision $ 34 (debit)

Repair Parts Inventory $ 34 (credit)

<em>Utilise the Warranty Provision when the warranty claim is subsequently received</em>

<em></em>

7 0
3 years ago
Misk Co. purchased the following securities during 2018 to be classified as held-to-maturity securities, trading securities, or
shtirl [24]

Answer:

C. III only

Explanation:

Option III states An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?

The choice of this option alone is based on the reasoning that Available for Sale (AFS) Securities are usually presented based on their fair values. As such an increase in investment will be needed when the Fair value exceeds is more than the cost of the securities.

The other effect of the transaction of Misk Co is that it will lead to an increase in other comprehensive income.

4 0
3 years ago
Check my work Check My Work button is now enabled3Item 5Item 5 10 points Social Media, Inc. (SMI) has two services for users. To
Nimfa-mama [501]

Answer:

a. Predetermined administration costs - $ 54 per engineering hours

b. Profit per Toot  - $ 648,075

   Profit per Tix       $ 326,450

Explanation:

Computation for predetermined overhead rate for admin costs

Estimated administration costs                                              $ 629,100

Engineering hours - Toot -  6,825

Engineering hours - Tix    -  <u>4,825</u>

Total engineering hours                                                              11,650

Predetermined rate for administration costs

$ 629,100/ 11,650 hours                                                       $ 54 per hour

Computation of total profit for each service

Administration costs - Toot = 6,825 hours * $ 54 per hour = $ 368,550

Administration costs - Tix =   4,825 hours * $ 54 per hour = $  260,550

                                                              Toot                Tix

                                                                 $                    $

Revenues                                            <u>1,350,000</u>       <u>1,040,000</u>

Engineering costs                                 333,375           453,000

Allocation of admin costs                     <u>368,550 </u>         <u>260,550</u>

Total costs                                              <u>701,925 </u>          <u>713,550</u>

Profit per service                                    648,075          326,450                          

5 0
3 years ago
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