Marketplaces - 8th - Business Tech

What is an insurance premium? the value of something lost or damaged the highest payout available by an insurer the amount paid

defon

Insurance premium is: the amount paid for an insurance policy.

<h3>What is insurance premium?</h3>

Insurance premium can be defined as the money that a person paid to an insurance company for insurance coverage incase of unforeseen or unexpected circumstance.

Example of insurance coverage are:

Theft
Accident
Fire etc.

Therefore the correct option is C.

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4 0

2 years ago

Read 2 more answers

B) Suppose that regular raises at your job allow you to increase your annual payment by 5% each year. For simplicity, assume thi

iren2701 [21]

Answer:

Time period required to pay off the mortgage = 18 years

Explanation:

Note: This question is incomplete and lacks necessary data to solve. But I have found that necessary data on the internet, which I have written down and solved the question accordingly.

Data Missing:

Buying Cost of House = $320000

Interest rate = 7%

Annual Mortgage Payment = $25525.8

Now, we are required to calculate the time period required to pay off the mortgage.

Solution:

Data Given:

Increase in annual payment percentage = 5%

So,

Formula:

P = C $e^{A-i}$ + C $e^{2(A-i)}$ + C $e^{3(A-i)}$ + ........ + C $e^{n(A-i)}$

Where,

P = Buying Cost of House = $320000

i = interest rate = 7% = 0.07

A = Increase in annual payment percentage = 5% = 0.05

C = Annual Mortgage Payment = $25525.8

P = C $e^{A-i}$ + C $e^{2(A-i)}$ + C $e^{3(A-i)}$ + ........ + C $e^{n(A-i)}$

In this formula, we have all the required things expect the value of n, which we have to calculate.

n = Time period required to pay the mortgage.

So,

$320000 = 25525.8 $e^{0.05 - 0.07}$ + 25525.8 $e^{2(0.05 - 0.07)}$ + 25525.8 $e^{3(0.05 - 0.07)}$ + ..... + 25525.8 $e^{n(0.05 - 0.07)}$

Taking 25525.8 common,

320000 = 25525.8 ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

320000/25525.8 = ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

12.536 = ( $e^{-0.02}$ + $e^{-0.04}$ + $e^{-0.06}$ + .... + $e^{-0.02n}$ )

Taking e common:

12.536 = $e^{-0.02 -0.04 - 0.06 + .... -0.02n}$

Taking Ln to solve for n, we get:

n = 17.89

n ≈ 18

n = 18 years

Hence, Time period required to pay off the mortgage = 18 years

8 0

3 years ago

Thornton Company started year 1 with $300,000 in its cash and common stock accounts. During year 1, Thornton paid $225,000 cash

bixtya [17]

Answer and Explanation:

The computation is shown below;

a. Total assets are

= Stock + Cash

= [$294,000 ÷ 1500 × 300] + [$300,000 - $225,000 - $69,000]

= $64,800

And, Total expenses is

= Materials + Labor

= $225,000 + $69,000

= $294,000

The Name of the expense is Purchases, Salaries

b. Total assets are

= Cash

= $300,000 - $225,000 - $69,000

= $64,800

And, the Total expenses = $294,000

The Name of the expense is Supplies, Salaries

4 0

3 years ago

Despite zero population growth, why is the population of the United States growing?

vovangra [49]

People migrating from other countries couples having more than two babies

7 0

3 years ago

Which of the following is a potential advantage to working in a commercial fitness facility?A. Can work from homeB. In-house emp

nikklg [1K]

Answer: Option B

Explanation: In simple words, commercial fitness facility refers to the gymnasiums an other such facility centers where individuals can go and work out for a better health and fitness. In house training refers to the knowledge that an employee gains while working for an organisation.

Employees working in such facility centers have the advantage to learn new techniques and exercises while working and getting paid. These facilities core operations relates to training their clients and making them more healthy thus they have to train their employees properly so they can handle the clients.

While doing so employee would get an in house training for the work that he or she is going to perform in the future,

7 0

3 years ago