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Setler79 [48]
3 years ago
11

Bob Shockey borrowed $25,000 from his $250,000 cash value life insurance policy to send his daughter to private college. Assumin

g he pays interest as in accrues, if Bob dies before the debt is repaid his beneficiary will receivea. $275,000.b. Taxable income.c. $250,000.d. S 25,000.e. $225,000.
Business
1 answer:
MissTica3 years ago
3 0

Answer:

e. $225,000.

Explanation:

Since Bob Shockey pays interest as in accrues, the amount the  beneficiary will receive if he dies before the debt is repaid will be the cash value of his life insurance policy minus amount borrowed to send his daughter to private college. This can be calculated as follows:

Amount to receive by beneficiary = $250,000 - $25,000 = $225,000

Therefore, his beneficiary will receive $225,000.

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3 years ago
Cassius Corporation has provided the following contribution format income statement. Assume that the following information is wi
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Answer:

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Explanation:

The breakeven point is the number of units that must be sold for the company to make neither a loss nor a profit. A target profit is the net of the sales less the sum of the fixed and variable expenses. The contribution margin  is the difference between the sales and variable cost.

Sales per unit = $210,000/7000 = $30

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3 years ago
Which Act is the amended from of the Consumer Credit Protection Act?
Andreyy89

the answer is c i hope this helps

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6 0
3 years ago
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gulaghasi [49]

Answer:

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Answer:

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