If they were injured in an accident. The total medical coverage in this accident is: $225,000.
<h3>Total medical coverage</h3>
$100,000 is for bodily injury liability insurance per person.
Hence:
Using this formula
Total medical coverage=Total injuries + Coverage
Let plug in the formula
Total medical coverage=$125,000+$100,000
Total medical coverage=$225,000
Therefore the total medical coverage in this accident is: $225,000.
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Answer:
The correct answer is B. The use of collateral makes it more costly for borrowers to take advantage of their asymmetric information.
Explanation:
In finance, a collateral or guarantee is a transferable asset or a surety, or even a promise of guarantee, used to cover the credit risk during financial transactions in the event that the borrower cannot meet his payment obligations.
A secured loan means a loan in which the borrower commits certain assets as a guarantee of credit, this the latter then becoming a partially secured debt for the creditor who made this loan.
The guarantee may consist of cash (pledge of cash account in retail bank, cash-collateral in investment bank) or securities.
Another form consists of a simple commitment: commitment by signature of a bank towards its client, promise of collateral or mortgage, letter of intent.
Answer:
true
Explanation:
it is true about the number of percentage
Answer:
$105,547
Explanation:
Original cost of machine = $270,000
Machine sold for = $150,000
Book value = $120,000
Down payment = $30,000
$60,000 payable on December 31 each of the next two years
.
Present value of an ordinary annuity of 1 at 9% for 2 years = 1.75911
The amount of the notes receivable net of the unamortized discount:
= Amount paid on December 31st × Present value of an ordinary annuity
= $60,000 × 1.75911
= $105,547
Answer:
Annual depreciation for the first year = $15,500
Annual depreciation for the second year = $7,500
Explanation:
Data provided in the question;
Cost of the delivery truck = $31,000
Salvage value = $4,000
Useful life = 4 years
Now,
The Rate of depreciation under declining-balance = 2 × straight-line rate
= 2 × 
= 0.5
or
= 0.5 × 100% = 50%
Therefore,
Annual depreciation for the first year = cost of truck × Rate of depreciation
= $31,000 × 0.5
= $15,500
Annual depreciation for the second year
= Book value at the end of first year of truck × Rate of depreciation
= $15,500 × 0.5
= $7,500
