homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due to the insured for the unexpired policy period? 1. $525 2. $625 3.$1150 4. $0
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A homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due to the insured for the unexpired policy period?
1. $525
2. $625
3.$1150
4. $0
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- If an insured purchases an Annuily from which income is received, the insured is the receiver beneficiary annuitant payeeWhich type of mortgage provides the borrower with a stable and unadjusted payment rate for the duration of the loan? Conventional Mortgage Graduated Payment Mortgage Variable Rate Mortgage Fixed-Rate MortgageGive typing answer with explanation and conclusion Rachel is purchasing a new camera that costs $2000 . Rachel uses a credit card that has an APR of 16.77% . How much will she pay in total to pay off the purchase if she makes monthly payments of $50 ? Round the number of monthly payments up to the nearest whole number. Round your final answer to the nearest whole number, if necessary.
- 16. A U.S. corporate bond has a 10% coupon, payable semiannually. It is priced at par. What is its maturity?udiasirois1122/Xv7zYW5RnILBBINV2A9egx/unit-4-project-tvm-calculator-pdf?pg=7 -Sign- At will focus on these types of savings plans in this portion of the project. The Savings Plan formula is below: Y =_ APR= A = PMT- n = A = Note: This formula assumes that the payment period and compounding period are the same. For example, monthly payments would indicate monthly compounding. Let's work an example with the savings plan formula and the TVM calculator. Example 3 Suppose that Ruby's employer offers a retirement plan. Ruby decides to invest $350 per month into the account. The interest is compounded monthly. Historically, the account has earned 7% APR. How much will be in his account if she retires in 25 years? Fill out the value for each variable, and put a question mark for the value we need to solve for. PMT= $350 25 0.07 12 $283,525.09 ((1+ APR-1) (APR) PMT= regular payment amount (deposit) Y = number of years APR = annual percentage rate (written as a decimal) n = number of times the…Journalize Period Payroll The payroll register of Patel Engineering Co. indicates $1,080 of social security withheld and $270 of Medicare tax withheld on total salaries of $18,000 for the period. Retirement savings withheld from employee paychecks were $1,260 for the period. Federal withholding for the period totaled $3,060. Provide the journal entry for the period's payroll. If an amount box does not require an entry, leave it blank.
- Calculate the table factor, the finance charge, and the monthly payment (in $) for the loan by using the APR table, Table 13-1. (Round your answers to the nearest cent.) AmountFinanced Number ofPayments APR TableFactor FinanceCharge MonthlyPayment $700 18 16% $ $ $Imagine you were just offered a full-time, 40 hours per week, position with a recycling company. The rate of pay is $17.00 per hour. The recycling company will deduct a pension amount from your salary, and combined with your other deductions, you will have a total deduction amount of 30%. This means you will actually take home $11.90 per hour What will be your monthly take home amount after deductions? Based on your life goals, priorities and needs, prepare a monthly budget showing your take home pay, and your projected expenses . Analyse your budget. Did you consider savings? Do you have any left-over, discretionary savings? What changes do you think you must make in order to make your budget reflect greater savings For example, should you live with your parents or get a roommate to split expenses, or reduce an expense?Exhibit 1-A Future value (compounded sum) of $1 after a given number of time periods Period 5% 1.050 1% 1.010 1.020 1.030 2% 1.020 1.040 1.061 4% 1.040 6% 1.060 1.124 3% 7% 8% 9% 10% 11% 1.030 1.061 1.093 1.126 1.159 1.090 1.188 1.295 1.412 1.539 1.677 1.828 1.080 1.166 1 1.070 1.100 1.110 1.145 1.210 1.331 1.232 1.368 1.082 1.103 1.158 1.216 1.276 3 1.125 1.191 1.225 1.260 1.170 1.217 1.262 1.338 1.041 1.082 1.311 1.360 1.464 1.518 1.051 1.403 1.104 1.126 1.149 1.469 1.611 1.772 1.949 1.685 1.870 2.076 2.305 2.558 6. 1.062 1.194 1.265 1.340 1.419 1.501 1.587 1.072 1.230 1.316 1.407 1.504 1.606 1.714 8 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 2.144 1.094 1.105 1.116 1.195 1.219 1.243 2.172 2.367 2.580 2.813 3.066 3.342 3.642 3.970 4.328 4.717 5.142 5.604 8.623 2.358 2.594 2.853 3.138 3.452 1.305 1.423 1.551 1.689 1.838 1.999 1.344 1.629 1.710 10 1.480 1.791 1.967 2.159 2.839 11 1.539 2.105 2.332 2.518 2.720 2.937 3.172 3.426 3.700 3.996 4.316 1.384 1.898 3.152 12 1.127…
- You plan to purchase a $310,000 house using a 15-year mortgage obtained from your bank. The mortgage rate offered to you is 5.10 percent. You will make a down payment of 20 percent of the purchase price. Calculate your monthly payments oni this mortgage. $1.922.34 $1.411.17 $1,974.11 $1.74191 None is the correct answerProblem 3 An investor bought a discount bond with face value of $1,000 at the price of $870. The bond matures in three years. What is the rate of return? Problem 6 You lend $1,000 today. The borrower promises to return $1,500 in 8 years from now. What is the yield to maturity of this loan?effective interest is considered an interest that is computed only on the original sum and not on accrued interest. Select one: True False