Lily took a life insurance from Sierra Insurance Company, with her husband Sixx as the beneficiary. Under the policy, Sierra will pay Lily the amount of P500,000 when the policy matures, or to her beneficiary husband in case she dies before the maturity. Lily will pay P10,000 annully for 20 years. Assuming that the policy matured when Lily reached 50 years old and she received the entire amount of P500,000 from the insurer, how much income should she report? 0 200,000 300,000 500,000
Lily took a life insurance from Sierra Insurance Company, with her husband Sixx as the beneficiary. Under the policy, Sierra will pay Lily the amount of P500,000 when the policy matures, or to her beneficiary husband in case she dies before the maturity. Lily will pay P10,000 annully for 20 years. Assuming that the policy matured when Lily reached 50 years old and she received the entire amount of P500,000 from the insurer, how much income should she report? 0 200,000 300,000 500,000
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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18. Lily took a life insurance from Sierra Insurance Company, with her husband Sixx as the beneficiary. Under the policy, Sierra will pay Lily the amount of P500,000 when the policy matures, or to her beneficiary husband in case she dies before the maturity. Lily will pay P10,000 annully for 20 years.
Assuming that the policy matured when Lily reached 50 years old and she received the entire amount of P500,000 from the insurer, how much income should she report?
0
200,000
300,000
500,000
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