Consider a fully discrete 20-year term insurance of 1,000 on a life aged 45. Mortalityfollows the Standard Ultimate Life Table with an interest rate of 5% per year.Commission expenses are 60% of the first year's gross premium and 2% of renewalgross premiums. Administrative expenses are 500 in the first year and 50 in eachrenewal year. All expenses are incurred at the start of the year. The gross premium iscalculated using the Equivalence Principle.(c)Determine, to the nearest integer, the gross premium reserve at the end of year10 for this insurance. Explain your answer.(i)(ii)Using recursive formula, calculate, to the nearest integer, the gross premiumreserve at the end of year 19 for this insurance.

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Answered: Consider a fully discrete 20-year term…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Please don't provide handwritten solution... Cindy borrows 13,500 for 12 years at an annual effective interest rate of i. She accumulates the amount necessary to repay the loan by a sinking fund. Cindy makes a payment P at the end of each of the 12 years of the loan period; each includes payment on the loan at an annual effective interest rate of i and payment into a sinking fund on which the annual effective interest rate is 4%. If the annual effective rate on the loan had been 2i instead of i, Cindy's total annual payment would have been 1.2 P. Find P
3. Janet is retiring after working for a major department store for 20 years. The company offered her a flat retirement benefit of $50 per year for each year of service. a. What was her monthly income in the first year after retirement? b. What was her annual income for the first year of retirement? c. After 1 year of retirement, she received a 1.54% cost of living adjustment to her monthly pension benefit. What was her new monthly benefit?
16. BOND PURCHASE New York purchased 10,000 bonds issued by Apache (APA) maturing in 2043. The commission is $.20 per bond due to the large volume. Find (a) the total cost including commissions, (b) the annual interest and (c) the effective interest rate.
Taxable Income: A woman earned wages of $48,200, received $1200 in interest from a savings account, and contributed $2900 to a tax-deferred retirement plan. She also had deductions totaling $6580. She was entitled to a personal exemption of $4,050 a standard deduction Find her gross income, adjusted gross income, and taxable of $6,300. income. Her gross income is A b. Her adjusted gross income is c. Her taxable income is Desk 1 Z O
Bags Unlimited manufactures and markets backpacks for the youth market. Financial projections for this line of products are revenues of $1,238,000, total variable costs of $841,840 and fixed costs of $218,000. Answer each of the following independent questions. a. Compute the contribution margin. ______________________ b. Compute the contribution rate. ______________________________ c. How much of this product line does the business need to sell to break even? ___________ d. If the business was to save $56,000 in variable costs by offering fewer colors of backpacks, how much of this product line does the business need to sell to break even?
Reduce salaries tax and personal assessment by 100% for the year of assessment 2023/24, with a ceiling of $3,000, benefiting 2.06 million taxpayers in Hong Kong. The deduction will be reflected in the final tax payable for the year of assessment 2023/24. Government revenue will decrease by $5.1 billion. What does 100% means?
Helppp
A person borrows $3,000 on a bank credit card at a nominalrate of 18% per year, which is actually charged at a rate of1.5% per month. a. What is the annual percentage rate (APR) for the card?(See Example 5.6.8 for a definition of APR.) b. Assume that the person does not place any additionalcharges on the card and pays the bank $150 eachmonth to pay off the loan. Let Bn be the balance owedon the card after n months. Find an explicit formulafor Bn . c. How long will be required to pay off the debt? d. What is the total amount of money the person will havepaid for the loan? If you could please answer b and d for me I put the other 2 questions there in cases they where somehow a part of b and d
PLEASE SHOW ALL WORK 9. Calculate the discount period for the bank to wait to receive its money: Date of Note Length of Note Date Note Discounted Discount Period (a) April 12 45 Days May 2 (b) March 7 120 Days June 8

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