Acturial Math problem:A 1-year term insurance provides a deathbenefit of 20, 000, payable at the end of thepolicy year. On the basis of the 2001 CSOTable of Mortality for males and using aneffective rate of interest of 5% and 6% perannum, respectively, calculate the premiumfor a life aged (i) 45, (ii) 55, and (iii) 65,respectively. Comment on the ordering ofthese premiums (including your observationand explanation on why this is the case).

Given:The amount provided by the company as a part of the death benefit is .The effective rate of…

Answered: Acturial Math problem: A 1-year term…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Table 1: Accumulated Interest Year 1 Lower-Risk Customer Higher-Risk Customer ACCUMULATED INTEREST Figure 1: Accumulated Interest 14,000.00 12,000.00 10,000.00 8,000.00 6,000.00 4,000.00 2,000.00 0 1 1,396.55 2,605.48 2 3,190.68 3,190.68 6,096.38 8,628.07 10,668.88 1,396.55 Accumulated Interest 2 6,096.38 Ⓒ2,605.48 3 Lower-Risk Customer 3,602.39 4,359.66 4,846.10 3 8,628.07 4 3,602.39 YEAR Ⓒ10,668.88 Ⓒ4,359.66 Higher-Risk Customer 5 Ⓒ12,065.44 5 Ⓒ4,846.10 12,065.44 12,616.45 5,026.46 6 6 Ⓒ12,616.45 5,026.46 4) Using the graph in 3), calculate the difference in the accumulated interest amount earned in year 5 by the credit card company charging 27.5 % versus 12.3% nominal annual rate of interest. 7
The discount rate set by the central bank of Romulus for the past 6 quarters is shown below: Quarter Discount Rate Quarter Discount Rate 1 10.0% 4 8.5% 2 10.5% 5 9.6% 3 11.4% 6. 11.5% The median is closest to: A. 10.25%. B. 10.50%. C. 11.25%.
You are the accountant for a company that owns a chain of 18 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 45 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour.(a)How many hours at minimum wage are paid out each week by the company?hr(b)At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll?$ (c)If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.)$ per hour(d)How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)$ (e)Suggest some ways that the restaurant chain or other small businesses can offset the increase in payroll and subsequent decrease in profit as a result of the minimum wage hike.
6) a. b. C. d. What is the present value of $15,000 received today, $2,500 received at the end of each of the next six years and $10,000 received at the end of the 7th year, assuming a required rate of return of 4.50% ? $38,143 $16,899.89 $29,990.22 $35,243
There is a 0.9991 probability that a randomly selected 33-year-old male lives through the year. A life insurance company charges $166 for insuring that the male will live through the year. If the male does not survive the year, the policy pays out $100,000 as a death benefit. Complete parts (a) through (c) below. a. From the perspective of the 33-year-old male, what are the monetary values corresponding to the two events of surviving the year and not surviving? The value corresponding to surviving the year is $ The value corresponding to not surviving the year is $ (Type integers or decimals. Do not round.) b. If the 33-year-old male purchases the policy, what is his expected value? The expected value is $ (Round to the nearest cent as needed.) c. Can the insurance company expect to make a profit from many such policies? Why? because the insurance company expects to make an average profit of $ on every 33-year-old male it insures for 1 year. (Round to the nearest cent as needed.)
Can you answer the question in the picture, please?
Kier Company issued $740,000 in bonds on January 1, Year 1. The bonds were issued at face value and carried a 3-year term to maturity. They had a 5.50% stated rate of interest that was payable in cash on December 31st. Based on this information alone, the amount of interest expense shown on the December 31, Year 1 income statement and the cash flow from operating activities shown on the December 31, Year 1 statement of cash flows would be: Interest Expense Cash Outflow A. $40,700 zero B. zero $40,700 C. $40,700 $40,700 D. zero zero Multiple Choice Choice A Choice B Choice C Choice D
A paper included analysis of data from a national sample of 1,000 Americans. One question on the survey is given below. "You owe $3,000 on your credit card. You pay a minimum payment of $30 each month. At an Annual Percentage Rate of 12% (or 1% per month), how many years would it take to eliminate your credit card debt if you made no additional charges?" Answer options for this question were: (a) less than 5 years; (b) between 5 and 10 years; (c) between 10 and 15 years; (d) never—you will continue to be in debt; (e) don't know; and (f) prefer not to answer. The paper also reported that 37.1% of those in the sample chose one of the wrong answers (a, b, or c) as their response to this question. Is it reasonable to conclude that more than one-third of adult Americans would select a wrong answer to this question? Use ? = 0.05. (Round your test statistic to two decimal places and your P-value to four decimal places.) State the appropriate null and alternative hypotheses. H0: p =…

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