Sam is applying for a single year life insurance policy worth $29,300.00. If the actuarial tables determine that she will survive the next year with probability 0.997, what is her expected value for the life insurance policy if the premium is $426.00?
In: Statistics and Probability
Cloe is a 40 year old female in search of a $100,000 life insurance policy to meet her family’s financial needs in the unlikely case of her untimely demise. An insurance agent show her premium and benefit tables for three policies (below): an Annual Renewable Term Life policy, a Straight Term Life policy, and a Whole Life policy (Tables 1, 2, and 3 respectively). What would Cloe expect to pay in the first year of each policy if she is interested in coverage for the next 20 years? Explain what each policy offers that explains why they have different premiums.
Table 1
Annual Renewable Term Life Insurance Premiums: $100,000 Policy, Preferred Nonsmoker Rates | |||
Policy Year | Age 25 | Age 40 | Age 60 |
Female | Female | Female | |
1 | $143 | $178 | $471 |
5 | 150 | 225 | 685 |
10 | 163 | 264 | 1,108 |
15 | 176 | 330 | 1,811 |
20 | 225 | 443 | na |
Table 2
Representative Level Premiums Term Life Rates: $100,000 Policy, Preferred Nonsmoker Rates | ||||
10 Year | 15 Year | 20 Year | 30 Year | |
Age | Female | Female | Female | Female |
25 | $108 | $108 | $108 | $139 |
40 | 135 | 145 | 161 | 195 |
60 | 324 | 412 | 545 | na |
Table 3
Representative Whole Life Insurance Annual Premiums: $100,000 Policy, Preferred Nonsmoker Rates | |||||
Annual Premiums | Premiums Paid through Year 20 | Cash Value at Year 20 | Dividend Value at Year 20 | Paid-up Insurance at Year 20 | |
Age | Female | Female | Female | Female | Female |
25 | $956 | $19,120 | $15,073 | $5,240 | $19,728 |
40 | 1,499 | 29,980 | 25,496 | 6,439 | 14,965 |
60 | 3,562 | 71,240 | 47,083 | 29,183 | 39,221 |
In: Finance
Compute the cost of insurance for a $1,000 life insurance policy in a year where the policy’s terminal reserve is $400 and the tabular probability of the insured’s death is 0.004.
In: Finance
What is journal entry for a Purchase a one-year insurance policy for $5,880 ?
In: Accounting
JT is a 20 year old female on a continuous infusion of an antibiotic. The total dose that will be given is 1500 mg over 24 hours. The volume of distribution is 69 L and the drug half life is 6.7 hours. What is the plasma drug concentration if a blood sample is taken 29 hours after the infusion began? Note: Please provide your answer in units of mg/L.
In: Anatomy and Physiology
HC is a 55 year old female on a continuous infusion of an
antibiotic. The total dose that will be given is 1500 mg over 16
hours. The volume of distribution is 51 L and the drug half life is
6.5 hours.
What is the plasma drug concentration if a blood sample is taken 17
hours after the infusion began? Note: Please provide your
answer in units of mg/L.
____
In: Chemistry
A company estimates it will sell 5000 products in a year. It would like to make some number N of qually spaces orders of size x units per order so that the total inventory cost (which includes ordering and storage) is minimized.
a. If there is a $20 per order fixed cost plus a cost of $9 per unit ordered, and the storage cost per unit per year is $10, find the number of orders and the number of units per order that the goal of minimizing inverntory costs is achived.
b. Suppose that the ordering cost doubles to $18 per unit ordered, and that no other change is made. Decide whether this should or should not change the solution that you found in part a. , and justify your answer.
In: Math
Silver Berhad is in the process of finalising the financial statements for the year ended 31 December 2018 and came across the following issues. Its profit after tax before the following adjustments is RM 1.65 million. The authorisation date for the financial statements is 31 March 2019.
(i) The tax rate applicable to the company has been changed from 26% to 25% on 15 January 2019. This new rate is announced to be applied starting for financial year 2019.
(ii) Major fire broke out in one of its factories on 15 February 2019 and destroyed the inventory valuing RM50,000, the sale value of which is now nil.
(iii) A debtor that owes the company RM30,000 was declared
bankrupt by the Insolvency Department on 6 January 2019. (iv) The
fair value of investment property held by the company at the
reporting date was RM1.2 million. However, a major flood on 5
January 2019 has been affecting the value of this investment
property. On 28 March 2019, an independent property valuer
estimated that the fair value now has decreased to RM900,000.
Required:
(i) For each case, discuss the accounting treatment.
(ii) Determine the amount profit of Silver Berhad for the year
ended 31 December 2018.
In: Accounting
Chang Company reported the following for the year ended December 31, 2018:
Gross sales revenue $750,000
Sales returns $ 30,000
Cost of goods sold $250,000
Selling and administrative expenses $100,000
Gain on disposal of the battery division; considered a discontinued operation $ 20,000
Loss from operations of the battery division $ 60,000
Interest expense $ 40,000
Gain on the sale of a fixed asset $ 10,000
Assume Chang’s income tax rate was 20% on all items. Also assume Chang had 140,000 shares of common stock outstanding throughout 2018.
Prepare Chang’s income statement in good form for the year ended December 31, 2018. Round any earnings per share figures to the nearest penny. The definition of “good form” includes, but is not limited to, showing $ signs when appropriate, showing underlines when appropriate, and showing double underlines when appropriate. You can use illustration 4.8 in your textbook as an example of “good form” in income statement preparation.
In: Accounting
The data below is the mileage (thousands of miles) and age of your cars .
Year Miles Age
2017 8.5 1
2009 100.3 9
2014 32.7 4
2004 125.0 14
2003 115.0 15
2011 85.5 7
2012 23.1 6
2012 45.0 6
2004 123.0 14
2013 51.2 5
2013 116.0 5
2009 110.0 9
2003 143.0 15
2017 12.0 1
2005 180.0 13
2008 270.0 10
Please include appropriate Minitab Results when important
a. Identify terms in the simple linear regression population model in this context.
b. Obtain a scatter diagram for the sample data. Interpret the scatter diagram.
c. Obtain a scatter diagram with the least squares regression line included. Interpret the intercept and slope in the context of this problem.
d. In theory what ought to be the value of the population model intercept? Explain.
e. What is the informal prediction for what the mileage should be on your car? What is the error in the prediction of the mileage for your car?
f .Use some statistical reasoning to assess whether or not the prediction for the mileage on your car was “accurate”?
g. How would you respond if someone asks “about” how many miles do students drive per year?
In: Statistics and Probability