Calculate the cash surrender value for Lee Chin, age 42, who purchased a $200,000 straight-life policy. At the end of year 20, Lee stopped paying premiums. (Use Table 20.2.) Cash surrender value
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- Calculate the cash surrender value for Lee Chin, age 43, who purchased a $340,000 20-year endowment policy. At the end of year 10, Lee stopped paying premiums. (Use Table 20 2) Cash surrender value TABLE 20-2 Nonforfelture options based on $1,000 face value STRAIGHT LIFE 20-PAYMENT LIFE 20-YEAR ENDOWMENT Years EXTENDED EXTENDED TERM EXTENDED Insurance Amount of TERM Amount of Amount of TERM policy in force Cash pald-up Cash value pald-up Cash pald-up value Insurance Years Day Years Day Insurance value Insurance Years Day 15 29 86 91 71 220 19 190 92 229 23 140 10 96 259 18 76 186 521 28 195 319 520 30 160 15 148 371 20 165 317 781 32 176 6.10 790 35 300 20 265 550 21 300 475 1,000 Life 1.000 1,000 Life Option 1: Cash value Option 2: Reduced pald-up insurance $200,000 $1.000 Option 3: Extended term insurance $200.000 200 x $148 $29.600 = 200 x $371 = $74.200 Bob could continue this $200.000 policy for 20 years iand 165 days $1.000Use the given table. Cindy started a whole-life insurance policy for $255,000 when she was 23 years old. At age 50, the policy has a cash value of $12,505 and Cindy converts the policy to extended term insurance for the same face value. Use 20-year level term rates to estimate the number of years of extended term insurance she has. Use a non-tobacco rate. E Click the icon to view the data table. Cindy has years of extended term insurance. (Do not round until the final answer. Then round to two decimal places as needed.)Finance question subject. solve
- Use the given table. Parker's $250,000 whole-life insurance policy has a cash value of $11,286. Parker is 60 years old, female, smokes, and is converting to an extended term policy for the same face value. Use 10-year level term rates to estimate the number of years of extended term insurance she has. Click the icon to view the data table. Parker has years of extended term insurance. (Do not round until the final answer. Then round to two decimal places as needed.)You have a $100,000 participating cash-value policy written on your life. The policy has accumulated $4,700 in cash value and you have borrowed $6,000 of this value. The policy also has accumulated unpaid dividend of $1,666. Yesterday you paid your premium of $1,200 for the coming year. What is the current death benefit from this policy? $96,866 $0 $93,866 $99,866Need ans.
- Alexandra Cunningham of Gardner, Massachusetts, has a $140,000 participating cash-value policy written on her life. The policy has accumulated $4,500 in cash value; Alexandra has borrowed $2,300 of this value. The policy also has accumulated unpaid dividends of $1,352. Yesterday Alexandra paid her premium of $1,000 for the coming year. What is the current death benefit from this policy?During 2020, Alissa had the following transactions: Salary $80,000 Interest income on savings account 3,000 Inheritance from aunt 30,000 Contribution to traditional IRA 6,000 Interest on student loans 1,500 Calculate Alissa's AGI. You do not need to include the dollar sign or cents imSubject:- finance
- The following are several situations involving compound interest. Required: Using the appropriate table, solve each of the following: Hope Dearborn invests $40,000 on January 1, Year 1, in a savings account that earns interest of 8% compounded semiannually. What will be the amount in the fund on December 31, Year 6? Ben Johnson receives a bonus of $5,000 each year on December 31. Beginning on December 31, Year 1, he deposits his bonus every year in a savings account that earns interest of 12% compounded annually. What will be the amount in the fund on December 31, Year 5, after he deposits his bonus received on that date? Ron Sewert owes $30,000 on a non-interest-bearing note due January 1, Year 11. He offers to pay the amount on January 1, Year 1, provided that it is discounted at 10% on a compound annual discount basis. What would he have to pay on January 1, Year 1, under this assumption? June Stickney purchased an annuity on January 1, Year 1, which, at a 12% annual rate, would…Required Information [The following information applies to the questions displayed below.] Javier and Anita Sanchez purchased a home on January 1 of year 1 for $1,000,000 by paying $200,000 down and borrowing the remaining $800,000 with a 6 percent loan secured by the home. The Sanchezes made interest-only payments on the loan in years 1 and 2. (Leave no answer blank. Enter zero if applicable.) d. Assume year 1 is 2020 and by the beginning of year 4, the Sanchezes have pald down the principal amount of the loan to $500,000. In year 4, they borrow an additional $100,000 through a loan secured by the home in order to purchase a new car. The new loan carries a 7 percent interest rate and is termed a "home equity loan" by the lender. What amount of interest can the Sanchezes deduct on the $100,000 loan? Maximum deductible interest expenseCalculate the annual premium for the following policy. (Use Table 20.1.) (for females subtract 3 years from the table.) (Round your answer to the nearest cent.) **TABLE ATTACHED***** Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $50,000 27 (F) 20-year endowment
