The 40-year-old makes a contract by paying the 6500 TL he has to the insurance company. If the evaluation is made with 3% interest rate, how much can the person receive when he reaches the age of 70?
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The 40-year-old makes a contract by paying the 6500 TL he has to the insurance company. If the evaluation is made with 3% interest rate, how much can the person receive when he reaches the age of 70?
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- You have to decide whether or not to participate in the employer match program at your work. If you place 8% of your gross pay into a retirement account, your employer will match it. You plan to retire in 30 years. You expect to earn 6% return on your investment. How much will you have in the account if your average annual gross salary is $50,000? A. $316,232.80 B. $22,973.96 C. $45,947.92 D. $632,465.60 Using the same information as the previous question, assume that you want to increase your portion of the contribution to 10%. The employer will only match up to 8%. How much would you have in this situation? A. $692,523.80 B. $711,523.80 C. $316,232.80 D. $632,465.60Betty Kay has a contract in which she will receive the following payment for the next 5 year: $1,000, $2,000, $3,000, $4,000 and $5,000. She will then receive an annuity of $8,500 a year for the end of the 6th through the end of the 15th year. She is offered a $30,000 to cancel the contract. If the payments are discounted at 14 percent should she cancel the contract? Showallworkings.Reginald is about to lease an apartment for 12 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,300 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $15,180. What is the implied monthly discount rate for the rent? If Reg is earning 0.3% on his savings monthly, should he pay by month or make the one-time payment? What is the implied monthly discount rate for the rent?
- Betty Kay has a contract in which she will receive the following payment for the next 5 year: $1,000, $2,000, $3,000, $4,000 and $5,000. She will then receive an annuity of $8,500 a year for the end of the 6th through the end of the 15th year. She is offered $30,000 to cancel the contract. If the payments are discounted at 14 percent should she cancel the contract? Show all workings. Please use a Financial Calculator to answer this question. Do not use excelElly and Kim are planning for their wedding in 2025. Unfortunately, they can't afford to pay in full the reception. The manager offered a monthly payment of Php 4,520 for 39 months with 0.87% interest compounded quarterly for them to avail the reception. How much is the contract price of the reception?An engineer is employed in a government office. Every month an amount of ₱ 1,924.83 is deposited in an insurance system. Suppose the employee is 25 years old today, what will be accumulated on his retirement if he wishes to retire at 65? What will be his expected pension (a monthly allowance from the accumulated deposits) if the insurance company assumes all their client to live up to 100 years of age? The insurance system offers 3.6% compounded monthly.
- Mr. Kamal is one the insured in Al-Ahlia Insurance Company having a policy of 10-year fixed rate insurance. As per the policy, he will receive a face value of OMR 120,000. If Mr. Kamal is aged 60 years old, how much premium this company has to request him to pay each three (3) months? 10-Year Fixed Rate 20-Year Fixed Rate Straight-Life Age Male Female Male Female Male Female 20 1.21 1.17 1.82 1.76 2.72 2.63 30 1.27 1.23 1.91 1.85 3.49 3.38 40 1.46 1.41 2.20 2.13 4.02 3.88 50 2.41 2.33 3.63 3.51 5.18 5.01 60 4.72 4.56 7.11 6.88 8.21 7.93 a. OMR 566.4 b. OMR 288.864 c. OMR 147.264 d. OMR 49.56A student borrows $2500 from his uncle in order to finish school. His uncle agrees to charge him simple interest at the rate of 3.7% per year. Suppose that the student waits 3.7 years and then repays the entire loan. How much interest will he have to pay?Margo borrowis 51700 , agreeing to pay it back with 48 annual interest after 11 months. How much interest will she pay?
- Their employers provide a short-term disability benefit for 6 months which is 50% of their currently monthly income. Should the Jacksons buy disability insurance? If so, how much should they buy? Assume that disability insurance costs 2% of monthly income needed.Reginald is about to lease an apartment for 36 months. The landlord wants him to make the lease payments at the start of the month. The monthly payments are $1,000 per month. The landlord says he will allow Reg to prepay the rent for the entire lease with a discount. The one-time payment due at the beginning of the lease is $32,484. What is the implied monthly discount rate for the rent? If Reg is earning 1.1% on his savings monthly, should he pay by month or make the one-time payment?Benjamin knows that he will be receiving $100,311 to settle an insurance claim, but he will not actually be paid for another 3 months. Needing cash now, he is considering an offer from a finance company to buy this payment from him by paying him cash today. The annual simple discount rate they are offering him is 27%. How much would he receive if he takes this deal? Round your answer to the nearest dollar.