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ale4655 [162]
3 years ago
15

On January 8, an applicant filled out an application for a life insurance policy but did not include the initial premium. The in

surance company approved the application on January 14 and issued the policy January 15. The producer delivered the policy on January 26 and collected the first premium. When did the coverage become effective
Business
1 answer:
const2013 [10]3 years ago
3 0

Answer: January 26

Explanation:

A life insurance policy is simply a contract that an individual has with an insurance company whereby the individual makes premium and in turn, the insurance company would have to give a death benefit, to the beneficiaries of the insurance policy once the insured dies.

Based on the information in the question, the coverage become effective on January 26 which was the day the policy was delivered and the first premium was collected.

You might be interested in
Matthias Corp. had the following foreign currency transactions during 2017:
Ronch [10]

Answer:

$7,300 loss

Explanation:

The computation of the net foreign exchange gain or loss included in the income statement is shown below:

Since the merchandise purchased value is $62,900

And, the paid amount is $53,200

So, the gain on transaction is

= $62,900 - $53,200

= $9,700

The borrowed amount is $305,000

And, the principal amount is $322,000

So, the loss is

= $305,000 - $322,000

= $17,000 loss

So in this case $7,300 loss is included which is a difference of $9,700 and $17,000

4 0
3 years ago
The next wave of marketable innovations may involve new ways to produce and conserve energy. If we can turn new technology into
Whitepunk [10]

Answer:

The correct answer is a) Gross domestic product (GDP)

Explanation:

Gross domestic product (GDP) is a fiscal measure of the market value of all the final goods and services produced annually. There are two types of GDP, nominal and Real.

8 0
3 years ago
The Bureau of Labor Statistics has found that the base-year expenditures of the typical consumer break down as follows:
Shkiper50 [21]

Answer:

  • <em><u>The CPI for the current year is    104.49   </u></em>

<em><u /></em>

Explanation:

A) Expenditure breakdown of the base year:

You must check that they add 100%

  • Food and beverages:               17.8%
  • Housing:                                   42.8%
  • Apparel and upkeep:                 6.3%
  • Transportation:                          17.2%
  • Medical care:                               5.7%
  • Entertainment:                              4.4%
  • Other goods, and services:       5.8%
  • Total                                          100.0%

Total: 17.8 + 42.8 + 6.3 + 17.2 + 5.7 + 4.4 + 5.8 = 100

Thus, the CPI of the base year is 100.

<u>B. Expenditure breakdown of the current year.</u>

Calculate the changes by adding the percent of increase to each item tha has changed.

1. <u>The prices of food and beverages have increased by 10 percent</u>:

  • 17.8% × 1.10 = 19.58%

2.<u> The price of housing has increased by 5 percent</u>:

  • 42.8% × 1.05 = 44.94%

3. <u>The price of medical care has increased by 10 percent</u>:

  • 5.7% × 1.10 = 6.27%

The other prices are unchanged.

Then, the new breakdown is:

  • Food and beverages:               19.58%
  • Housing:                                   44.94%
  • Apparel and upkeep:                 6.3%
  • Transportation:                          17.2%
  • Medical care:                              6.27%
  • Entertainment:                              4.4%
  • Other goods, and services:        5.8%
  • Total                                           104.49%

Of course the new total is not 100%.

  • 19.58 + 44.94 + 6.3 + 17.2 + 6.27 + 4.4 + 5.8 = 104.49

That means that the price of the total basket of products has increased from 100 to 104.49.

Thus, <u>the CPI of the current year is 104.49 ← answer</u>

8 0
3 years ago
Explain about New product pricing strategy
Vanyuwa [196]

The first new product pricing strategies is called price-skimming. It is also referred to as market-skimming pricing. Price-skimming (or market-skimming) calls for setting a high price for a new product to skim maximum revenues layer by layer from those segments willing to pay the high price.

CORRECT ME IF IM WRONG

HOPE IT HELPS:)

7 0
2 years ago
Marko, Inc., is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $5,700, $10,700, and
vovikov84 [41]

Answer:

Total PV= $26,176.63

Explanation:

Giving the following information:

Cash flow:

Cf1= $5,700

Cf2= $10,700

Cf3= $16,900

<u>To calculate the price of the investment now, we need to use the following formula on each cash flow:</u>

PV= Cf / (1+i)^n

PV1= 5,700/1.11= 5,135.14

PV2= 10,700/1.11^2= 8,684.36

PV3= 16,900/1.11^3= 12,357.13

Total PV= $26,176.63

7 0
3 years ago
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