7) CALCULATE LIFE INSURANCE COVERAGE IN THE AMOUNT OF THE PREMIUM IS $0.22 PER $1000 PER MONTHSALARY INSURANCE COVERAGE PAYROLL PREMIUM DEDUCTION PER PAY PREMIUM DEDUCTION PER YEARDAN $50,000.00 2X SALARY BI WEEKLYSARAH $60,000.00 3X SALARY WEEKLYJESSICA $45,000.00 1.5 X SALARY SEMI MONTHLYADAM $75,000.00 4X SALARY MONTHLY

First, we need to calculate the insurance coverage for each individual. This is done by multiplying…

Answered: 7) CALCULATE LIFE INSURANCE COVERAGE IN…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter4: Time Value Of Money

Section: Chapter Questions

Problem 22PROB

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(1 point) A company is considering two insurance plans with the following types of coverage and premiums: Plan A Fire/Theft Liability Monthly Premium Plan B $25,000 $35,000 $195,000 $138,000 $75 $70 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75 per month and receive $25,000 in Fire/Theft insurance. Two units of plan A insurance cost $150 per month and give $50,000 in Fire/Theft insurance. The company wants at least $900,000 in coverage for Fire/Theft insurance and $4,995,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and What is the minimum monthly premium for the company? $ units of plan B.
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Find the following: Annual Premium Canceled After Canceled By Premium Cost Refund $600 7months insured
Using the tables found in the textbook, determine the difference between the monthly payments on a $120,000 home at 6½% and at 8% for 25 years. A. $91.12 B. $151.02 C. $81.12 D. $115.20
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