Kenji wants to buy a $150,000 term life insurance policy. He is 30 years old. Using the premium table, what is his annual premium for a 5-year policy?

Q: Matt Clark, age 27, decided to take out a limited payment life policy. He chose this because he…

A: An individual male decided to take out a 20-year limited payment life policy with a coverage amount…

Q: How many payments can Gabriel expect to receive in retirement? He expects to earn 7.04 percent in…

A: The concept of TVM refers to the interest-earning capacity of money because which money received…

Q: Henry would like to have a retirement income of $3,000 per month (month-end payments). How much must…

A: We need to use present value of ordinary annuity(payment due at end of period) formula to solve this…

Q: Daniel knows that he can withdraw up to a maximum of $35,000 from his Registered Retirement Savings…

A: The minimum repayment amount is determined on the basis or proportion of actual withdrawal that is…

Q: Suppose you wish to retire at the age of 65 with $80,000 in savings. Determine your monthly payment…

A: Future value is an estimate of future cash flows ​​that may be received at a future date, discounted…

Q: 2 Darius, age 52, wants to pay no more than $800 a year in life insurance. If the annual life…

A: Annual life insurance premium rate = $5.38 per $1000 of the face value Largest 15-year term policy…

Q: What will the remaining balance on their mortgage be after 5 years?

A: Mortgage: It is referred to as credit or loan used by the borrower to buy a house, land, or other…

Q: Marilyn wishes to retire at age 65 with $2,000,000 in the bank. At the age 21, she decides to begin…

A: Calculate the monthly payments as follows:MS-Excel --> Formulas --> Financials -->PMT

Q: You annually invest $1,500 in an individual retirement account (IRA) starting at the age of 25 and…

A: Your annual investment, PMT = $ 1,500    Starting age = 25Number of Years, n = 15Annual Interest…

Q: Chris and Lisa have a newborn child and are shopping for life insurance. Chris earns $90000 a year…

A: Term insurance is life insurance policy in which the amount is paid in the event of death of person…

Q: Is the​ friend's statement really true?   The future value of annual premiums deposited in a good…

A: Life insurance is an investment plan in which one has to pay premium every year and at the time of…

Q: If George wants to purchase a new home for $400,000 and finance $320,000 with a 4%, 30 year mortgage…

A: Excel Spreadsheet:

Q: Magnus wishes to have $1,500,00 when he retires in 44 years. What are the monthly payments he must…

A: Future value of annuity = P * [ (1+r)^n  - 1 ] /r  Where, Future value of annuity = 150000 n = 44 r…

Q: Diego is getting a mortgage for $320,000 at a rate of 4.5% for 30 years. What is his monthly payment…

A: Monthly Payment is the payment that is to be paid monthly for a specific period of time to repay the…

Q: You contribute $1,000 annually to a retirement account for eleven years and stop making payments at…

A: Withdrawal using present value (PV) of funds at retirement refers to the strategy of calculating the…

Q: 1) Sabrina waits to start saving for retirement until age 35. If she saves the same $8000 each year…

A: Annual saving (P) = $8000 Period from 35th year to 65th year (n) = 30 Interest rate (r) = 7.00%

Q: Amy plans on putting $75 at the beginning of each month into a retirement savings account for the…

A: The annuity is the series of payments for certain period of time. It will provide the future value…

Q: The Real Deal Life Insurance company is offering to you to purchase a policy that will pay you, your…

A: This is a case of perpetuity. A perpetuity is an annuity that lasts forever. Note that an annuity is…

Q: Use the given table. Cindy started a whole-life insurance policy for $255,000 when she was 23 years…

A: given data whole life insurance policy = 255,000 the policy has a cash value = 12,505 20-year level…

Q: Shane has a retirement plan with an insurance company. He can choose to be paid either $450 per…

A: Solution:- Every rational person wants to pay fewer amounts. So, the better option will be the one…

Q: Suppose that you earn $50,000 annually. You expect expenses to drop by 22% for your family in the…

A: If you die you want to provide your family with = 50000 - 0.22*50000 = 39000$39000 every year for 15…

Q: Tommy Cook is 19 years old and is interested in purchasing a whole life insurance policy with a face…

A: Since you have posted a question having multiple sub-parts. All sub-parts are solved for you below.

Q: Emily is trying to decide between investing $1,000 or $1,500 at the beginning of each year for the…

A: Future value of money is the amount of deposit done and the amount of compounded interest…

Q: 14. Francisco Lindor borrows $73,000 at 12 percent interest toward the purchase of a mortgage is for…

A: Annual payments are periodic fixed payments that include the payment for interest and payment for…

Q: After owning his home for 4 years, Braxton wants to refinance his mortgage interest rate from 5% to…

A: Monthly mortgage payment $        2,336.72Period (years)20Period lapsed (years)4Interest rate5.00%

Q: You annually invest $1,500 in an IRA starting at the age of 20 and make the contributions for 10…

A: If you have any problem let me know in comment box thankyou.

Q: A 40-year-old woman decides to put funds into a retirement plan. She can save $1,000 a year and earn…

A: We need to calculate the persent value of annuity  by using this formula.    PV of annuity =CF*…

Q: Janet receives a $ 10,000 life insurance benefit. If she uses the proceeds to buy an n-year annuity…

A: Given information,Life insurance benefit: Annual payout n-year annuity: Annual annuity 2 n-year…

Q: You annually invest $2,000 in an individual retirement account (IRA) starting at the age of 30 and…

A: Since, in this question fixed amount is invested each year. So, it is the question of annuity.…