The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

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Answer 1

Question

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

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Questions An insurance company's cumulative incurred claims for the last 5 accident years are given in the following table: Development Year Accident Year 0 2018 1 2 3 4 245 267 274 289 292 2019 255 276 288 294 2020 265 283 292 2021 263 278 2022 271 It can be assumed that claims are fully run off after 4 years. The premiums received for each year are: Accident Year Premium 2018 306 2019 312 2020 318 2021 326 2022 330 You do not need to make any allowance for inflation. 1. (a) Calculate the reserve at the end of 2022 using the basic chain ladder method. (b) Calculate the reserve at the end of 2022 using the Bornhuetter-Ferguson method. 2. Comment on the differences in the reserves produced by the methods in Part 1.

Answer 2

Question

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Expert Solution & Answer

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Answer 3

Question

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Expert Solution & Answer

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Answer 4

Question

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Expert Solution & Answer

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Answer 5

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Answer 6

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 7

Chapter 15, Problem 14ECP

(a)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 8

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 9

(b)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 10

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 11

(c)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 12

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 13

(d)

To determine

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

Answer 14

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

Answer 15

(e)

To determine

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

Answer 16

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Answer 17

(f)

To determine

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

Answer 18

Expert Solution & Answer

Answer 19

Expert Solution & Answer

Answer 20

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Answer 21

Ch. 15.1 - Prob. 1PQ Ch. 15.1 - Prob. 2PQ Ch. 15.1 - Prob. 1EPQ Ch. 15.1 - Prob. 2EPQ Ch. 15.1 - Prob. 1AH Ch. 15.1 - Prob. 2AH Ch. 15.1 - Prob. 3AH Ch. 15.1 - Prob. 4AH Ch. 15.1 - Prob. 5AH Ch. 15.1 - Prob. 6AH

The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

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The monthly payment of Harriet Marcus for 25years mortgage at 11.5%. If selling price of home is $50,000 and she pays 20% as down payment.

The monthly payment of Harriet Marcus for 25years mortgage at 12.5%. If selling price of home is $50,000 and she pays 20% as down payment.

The monthly payment of Harriet Marcus for 25years mortgage at 13.5%. If selling price of home is $50,000 and she pays 20% as down payment.

The monthly payment of Harriet Marcus for 25years mortgage at 15%. If selling price of home is $50,000 and she pays 20% as down payment.

The saving in interest rate, if rate rise to 15% from 11.5% over 25 years. Price of home is $50,000 at 20% down payment.

The total saving in interest rate, if rate rise to 11.5% from 15% over 30 years. Price of home is $50,000 at 20% down payment.

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