Reconstruction cost on your new home is $500,000. You decide to insure it for only what you paid for it - $375,000. 2 years later you have a $150,000 loss. How much will your insurance company pay? O $125,600 O $140,625 O $150,000 O $75,000

Q: 6. (14pts) When purchasing a $210,000 house, a borrower is comparing two loan alternatives. The…

A: The objective of the question is to calculate the incremental cost of borrowing extra money between…

Q: Suppose you are 40 years old. Your only debt is a mortgage = $450,000. The current value of your…

A: Mortgage refers to the loan taken by individual for purchasing tangible fixed asset that is…

Q: 5. Your great uncle recently died and left you $50,000 in his will. The lawyers tell will is complex…

A: Money has time value because value of money decreases with time due to the interest rat and…

Q: 1.    Jason Bradley bought a new split-level home for $158,000 with 30% down. He decided  to use…

A: Loan:   A loan is defined as the lending of money by one or more persons, organizations, or other…

Q: ou want to buy a home but not take out a mortgage. You want to buy it outright when you are able to…

A: Future value is the value of present cashflow compounded to future date at specified rate. formula:…

Q: Suppose that the installation of Low-Loss thermal windows is expected to save $350 per year on your…

A: Saving = p = $350Time = t = 18 YearsInterest Rate = r = 9%

Q: You are selling your black 1967 Chevy Impala. You have already spent $5,000 on repairs. At the last…

A: Fixed assets refer to those assets which benefit a business organization for a long period. These…

Q: Mr. and Mrs. Bogdanovich want to buy a house that costs $585,000. They can only afford to pay $2200…

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Q: You buy a house that costs $10,000. Its annual maintenance cost = $100/year. After 5 years, you can…

A: Given: Initial cost = $10,000 Maintenance cost = $100 Years = 5 Year 5 sale value = $20,000

Q: 5. Mr. Johnson wants to buy insurance against his house burning down. The insurance will pay M…

A: Expected return is amount of profit or loss that is expected to be earned on the annual premium that…

Q: I bought my home January 1st 2020 If my home costs 580,000$ The down payment is 5% the mortgage rate…

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Q: In the aftermath of the mortgage crisis, Phil and Crystal, are considering remodeling their home.…

A: Future Value = $86,000 Interest Rate = 6% Time Period = 8 Years

Q: A person purchased a $167,855 home 10 years ago by paying 10% down and signing a 30-year mortgage at…

A: Refinancing refers to the financing the mortgage again with new and reduced interest rate. The…

Q: A family wants to purchase a house that costs $135,000. They plan to take out a $125,000 mortgage on…

A: A mortgage is a loan on a property where the collateral is the property itself.

Q: i need a solution :

A: The objective of the question is to find out the interest rate that Gary needs to earn on his…

Q: Mike Jones bought a new split-level home for $150,000 with 20% down. He decided to use Victory Bank…

A: given, price = $150000 down payment = 20% principal of loan = (150,000 x (1-0.2)) = $120,000 rate =…

Q: (g) In Illinois, the Assessor's Office for the township you live in puts an assessed value on your…

A: Assessed value of a asset is the value determined by a officer, it is the updated value of a house…

Q: 10. Calculating Perpetuity Values Larry's Life Insurance Co. is trying to sell you an investment…

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Q: ly, how long Will you Have logies!) В years. 2 years. ars

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Q: 1) If you buy a 15% per yea Will this c will it take

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A: Market value is the value at which one person can sell the asset in the given market.

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A:

Q: 7 years ago, you bought an empty lot for $410893.  Your plans have changed so you are thinking about…

A: The implied return is the rate of return earned over the holding period. It is the annual rate of…

Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.