Adik and Abang each purchase both a life annuity and a whole life insurance policy on January 1, 1980. Each annuity pays $100 per year commencing on January 1, 1981. The actuarial present value for the annuity is $1,300 for Abang and $1,370 for Adik. Each insurance policy provides $10,000 payable at the end of the year of death. The actuarial present value for the insurance policy is $3,000 for Adik. Abang is one year older than Adik. Within which of the following ranges is the actuarial present value for Abang? Possible Answers A < $3,200 B$3,200 but < $3,400 c≥ $3,400 but < $3,600 D2 $3,600 but < $3,800 E ≥ $3,800

Q: If the market interest rate is 5%, the bonds will issue at $485,076. Record the bond issue on…

A: Record the bond issue on January 1, 2024:Debit: Cash $1,076,000Credit: Bonds Payable…

Q: At age 25, Jesus deposited $2000 each year into an annuity. His annuity paid 8.5% interest. He…

A: Given: Principal amount = $2000 Interest rate = 8.5 %  i.e., r = 0.085 Time period in years n =…

Q: If you purchased the TV on April 22 of this year and the billing date of the installment loan is the…

A: The billing cycle is any kind of month to month record in the timeframe between billings.

Q: Find the present value of an ordinary annuity which has payments of $1500 per year for 16 years at…

A:

Q: Find the present value of an annuity-immediate which pays 1 at the end of each half-year for five…

A: solution:   Given : An annuity-immediate which pays 1 at the end of each half-year for five years,…

Q: find the future value of an ordinary annuity if it pays an amount of $11,264 at an interest rate of…

A: Given : Payment amount , P = $11,264 Interest Rate , r = 0.092 Time , n = 17 years

Q: Use a calculator to evaluate an ordinary annuity formula nt 1 + A = m 1 for m, r, and t…

A: Solution:

Q: On October 1, 2018, a business borrowed $18,000 on a 5-year, 6% note payable. The loan required the…

A: Given information- Principal amount borrowed = $18,000 Duration = 5 year Interest = 6% The amount…

Q: What is the cash value of this annuity due at the end of year 11?

A:

Q: Mustafa purchases an annuity due paying 5% quarterly. If his payment is $9651, how much will its…

A: Thanks for the question :)And your upvote will be really appreciable ;)

Q: On January 1, 2021, HW Company issued $90,000 of notes payable, of which $25,000 is due on January 1…

A: Given: Company issued $90,000 of notes payable, of which $25,000 is to be paid on January 1 of each…

Q: If the finance charge on a loan made by Marjorie Young is ​$1,670 and the loan is to be paid in…

A: Given If the finance charge on a loan made by Marjorie Young is ​$1,670 remaining payments = 36-26 =…

Q: Find the present value (in dollars) of an annuity that pays $4,000 at the end of each 6-month period…

A: See solution below. Here we used some basic formula

Q: Use a calculator to evaluate an ordinary annuity formula nt - 1 A = m for m, r, and t…

A: The given formula for ordinary annuity is A=m1+rnnt-1rn. The given values are m=$100, r=4%=0.004,…

Q: Mustafa purchases an annuity due paying 6% quarterly. If his payment is $5901, how much will its…

A:

Q: Suppose that an annuity has a present value of P = 1 million dollars. What interest rate r would…

A:

Q: If you wish to retire at age 67 and make $60,000 per year without affecting the principal of your…

A:

Q: Find the present value of the ordinary annuity. Payments of $550 made annually for 13 years at 6%…

A:

Q: In Exercises 1–5, assume that 74% of randomly selected adults have a credit card (based on results…

A: Binomial distribution:The binomial distribution gives the probability of number of successes out of…

Q: A patient’s insurance policy states:Annual deductible: $300.00Coinsurance: 70-30This year the…

A: In this question, it has mentioned that:Annual deductible = $300Co-insurance: 70 – 30The payment…

Q: If Mr. Cobain had deposited his payment into a savings account and just left it there, how much…

A:

Q: what type of annuity is this: Payments are made at the beginning of each month and the interest is…

A: Payments are made at the beginning of each month and the interest is 6% semi-monthly.