Emma Jacobs was declared insolvent. Her estate will pay 20 cents of every rand she owes us. She owed us R1 700. The rest must be writte off. Bad debts at the end of the year will be: O A. R860 OB. R840 O C. R1 360 OD. R1 860

Emily receives R1 500,00 from the bank now that charge 10,5% simple discount per annum. She has to pay back the bank as amount of R1 893,75 in a few months' time. The number of months after which Emily pays back the loan, rounded to one decimal place, is O a. 23,8. O b. 2,5. C. 2,0. O d. 30,0.

You have an HO policy with the following limits: A $75,000 (dwelling) B-$ 7,500 (other structures) C-$25,000 (personal property). A tornado strikes your property. You lose your house, which is worth $65,000 at the time of the loss. You also lose an unattached shed worth $8,000, and personal property worth $30,000. You will collect? (assume $0 deductible, ignore the ACV calculation and assume there is no fraud or other unusual circumstances surrounding the loss.) OA$107,500 OB. $97,500 OC.$103,000

Mitt was injured by a bus called “Move Forward.” He won a lawsuit and will receive $10,000 per month, at the beginning of each month, for the next 10 years. How much must “Move Forward” deposit into an account earning 5%, compounded monthly, to satisfy this judgment?a. $946,742.b. $937,109.c. $942,814.d. $907,899.

Patricia initially borrowed $6,700 from CIBC Bank at 2.9% compounded quarterly. After 4 years she repaid $1,809, then 6 years after the $6,700 was initially borrowed she repaid $2,010. If she pays off the debt 9 years after the $6,700 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = 4 % PV = $ 6700 P/Y = 4 % PV = $ 5711.92 C/Y = 4 Amount owed after 4 years (before the first payment) = $ 7,520.92✓ positive value) PMT= $ 0 P/Y = PV = $ Amount owed after the first payment of $1,809 (enter a positive value): $ 5711.92 ✓ C/Y = 4 PMT= $0 N = 16 C/Y = PMT = $ FV = $ 7,520.92✓ N = N = 12 Amount owed after 6 years (before the second payment) = $5816.91 x (enter a positive value) Amount owed after the second payment of $2,010 (enter a positive value): $ FV = $ FV = $5816.91 X I/Y = 2.9 Final payment (after 9 years); (enter a positive value) $ (enter a X I/Y = 2.9 I/Y = %

Sam refuses to retire until his retirement account has a balance of at least $ 369,214 . Sam refuses to make any more deposits in the account. The account currently has a balance of$ 117,923 and earns 6% per year, compounded semi-annually. How long does Sam have before he will retire? You are computing number of years. Round your answer to one decimal place. For example, record 14.294 years as 14.3.

Joe Jay purchased a new colonial home for $260,000, putting down 20%. He decided to use Loyal Bank for his mortgage. They were offering a 6 1/2% for a 25-year mortgage. The principal after the first payment had a balance outstanding of: Multiple Choice   $259,652.79   $207,722.24   $206,595.57   $258,244.46

Edward loaned 55000 to a small business at 4.66% compounded quarterly for 1 year and 9 months how much would the business have to repay her at the end of period

Dick Hercher bought a home in Homewood, Illinois, for $230,00O. He put down 20% and obtained a mortgage for 25 years at 8%. The total interest cost of the loan is: Multiple Choice $327,372.80 None of these $184,000.00 $242,144.00 $242,411.00 acer

Steinar loaned a friend $9,500 to buy some stock 3 years ago. In the current year the debt became worthless. a. How much is Steinar's deduction for the bad debt for this year? (Assume he has no other capital gains or losses.) 4,750 X as a nonbusiness ✓ bad debt. Feedback ▼ Check My Work Bad debts fall into one of two categories, business bad debts or nonbusiness bad debts. Debts that arise from the taxpayer's trade or busin are classified as business bad debts, while all other debts are considered nonbusiness bad debts. The distinction between the two types of debts is important, since business bad debts are ordinary deductions and nonbusiness bad debts are short-term capital losses. b. What can Steinar do with the deduction not used this year? The remaining $ 0x can be carried forward as a short-term capital loss and deducted in future years, subject to an annual limitation