Answer:
$3,842.78
Explanation:
We must determine the future value of the money invested and then calculate the difference between both return rates. We can use the future value formula: FV = present value x (1 + return rate)ⁿ
3.5% ⇒ FV = $238,000 x (1 + 3.5%)³ = $238,000 x 1.035³ = $263,874.85
4% ⇒ FV = $238,000 x (1 + 4%)³ = $238,000 x 1.04³ = $267,717.63
difference = $267,717.63 - 263,874.85 = $3,842.78
While both types of insurance are required, if you do not have health insurance, you will be required to pay a fee on your taxes.
FYI, while this used to be true the United States has recently removed the requirement known as the "individual mandate" for people to have health insurance or face a penalty.
Answer:
Coverage E - Additional Living Expense
Explanation:
Based on the scenario being described within the question it can be said that this individual has a Coverage E - Additional Living Expense. This is an insurance coverage that covers the home-owner with compensation when they they are not able to live in their house due to an loss or a claim which is insured. Such as damage due to fire, like in this scenario which made the house uninhabitable.
Answer:
$63,140
Explanation:
For computing the total amount of product cost first we have to find out the total product cost per unit which is shown below
Direct material cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Fixed manufacturing overhead per unit.
= $6.70 + $3.40 + $1.50 + $3.80
= $15.40
Now the
Product cost is
= units produced × cost per unit
= 4,100 units × $15.40
= $63,140
We simply applied the above formulas
