An insurance company is offering a new policy to its customers. Typically, the policy is bought by a parent or grandparent for a ch the child's birth. The details of the policy are as follows: The purchaser (say, the parent) makes the following six payments to the insurance company: First birthday: Second birthday: Third birthday: Fourth birthday: Fifth birthday: Sixth birthday: $ 840 $ 840 $ 940 $ 940 $ 1,040 $ 1,040 After the child's sixth birthday, no more payments are made. When the child reaches age 65, he or she receives $385,000. Child's 65th birthday If the relevant interest rate is 11 percent for the first six years and 7 percent for all subsequent years, what is the value of the policy the child's 65th birthday? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.

What is the Schedule A deduction for interest expense? Paul paid interest to his lenders as follows: Primary home mortgage                 $7,200 Home-equity loan                     435 (not acquisition debt) Credit cards                                498 Car loan                                      390 Primary home mortgage Home-equity loan Credit cards Car loan

Determine the amount of the child- and dependent-care credit to which each of the following taxpayers is entitled. If an amount is zero, enter "0". Round intermediate computations and final answer to the nearest dollar. Note: Round your percentage computations up to the next whole number before using in credit dollar amount computations. a.   Caryle and Philip are married and have a 4-year-old daughter. Their adjusted gross income is $47,600, and they pay $2,300 in qualified child-care expenses during the year. Caryle earns $17,100, and Philip earns $30,500 in salary. $fill in the blank 1 b.   Natalie is a single parent with an 8-year-old son. Her adjusted gross income is $25,000, and she pays $3,190 in qualified child-care expenses. $fill in the blank 2 c.   Leanne and Ross are married and have three children, ages 6, 4, and 1. Their adjusted gross income is $77,000, and they pay $6,340 in qualified child-care expenses during the year. Leanne earns $47,600, and Ross earns…

Find the expected net profit of an insurance company on a life-insurance policy whose death benefit is $1,000,000 if the annual premium for the policy is $2000 and the chance of the customer dying within the next year is 0.002. Interpret. (show work)

A-7