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- Determine the down payment and the amount to be financed for each home described below. (a) $340,340; 10% down The down payment is $ The amount to be financed is $ (b) $740,000; 20% down The down payment is $ The amount to be financed is $(1 point) A company is considering two insurance plans with the following types of coverage and premiums: Plan A Fire/Theft Liability Monthly Premium Plan B $25,000 $35,000 $195,000 $138,000 $75 $70 Premiums are sold in units. For example, one can buy one unit of plan A insurance for $75 per month and receive $25,000 in Fire/Theft insurance. Two units of plan A insurance cost $150 per month and give $50,000 in Fire/Theft insurance. The company wants at least $900,000 in coverage for Fire/Theft insurance and $4,995,000 in coverage for liability insurance. How many units of each plan should be purchased to meet the needs of the company while minimizing cost? The company should purchase units of plan A and What is the minimum monthly premium for the company? $ units of plan B.QUESTION 1 Refer to Scenario 9.2 below to answer the question(s) that follow. SCENARIO 9.2: Tom borrowed $40,000 from his parents to open a donut stand. He agrees to pay his parents a 5% yearly return on the money they lent him. His other yearly fixed costs equal $10,000. His variable costs equal $25,000. He sold 40,000 dozen donuts during the year at a price of $2.00 per dozen. Refer to Scenario 9.2. Tom's total fixed costs equal O $1,000. O $10,000. $12,000. O $21,000.
- A couple purchasing a home budget $1000 per month for their loan payment. If they have $25,000 available for a down payment and are considering a 25 year loan, how much can they spend on the home at each of the following rates? (Round your answers to the nearest cent.) A.) 6.3 compounded monthly B.) 7.8 compounded monthlyUse the following information to do a CBA of going to college and earning your BS degree instead of working with your HS diploma. Assume that you are unable to work during the time you are in college HS income: $36,000BS income: $63,000College out of pocket costs: $13,000 College n 4 yearsCareer n 35 years Use r=3% and annual compoundingStandard Insurance is developing a long - life insurance policy for people who outlive their retirement nest egg. The policy will pay out $240 comma 000240,000 on your 82 nd82nd birthday. You must buy the policy on your 65 th65th birthday. The insurance company can earn 55% on the purchase price of your policy. What is the minimum purchase price the insurance company should charge for this policy? Question content area bottom Part 1 What is the minimum purchase price the insurance company should charge for this policy?
- 6. You have saved up some money for your retirement. You end up living 20 years after your retirement. The first year you receive $50,000 from your retirement account and then each following year you receive $2000 more due of Cost-of-Living adjustment. Meaning, in year 1 you receive $50,000, year 2 $52,000, year3 $54000, etc. How much money had you saved for retirement. Do not use excel, please work the problem out. Also include cashflow diagram if possible.8. A company pays one of its employees $800 per week. How much is the amount withheld from his pay for Social Security taxes? Group of answer choices A.$49.60 B.$11.60 C.$61.20 D.$34.52 9.Squeaky Clean laundromat purchased $6,000 worth of washing machines which are expected to last for 5 years, at which time they will have a trade-in value of $1,000. Calculate the annual depreciation using the straight line depreciation method. Group of answer choices A.$1,200 B.$1,150 C.$1,000 D.$950 10. On July 1, 2017, a company purchased a delivery van for $32,000. In five years, when they trade in the van, they will receive $3,000 toward the purchase of the next model. Using the straight-line method of depreciation, how much will they be allowed to depreciate during the first year? Group of answer choices A.$6,400 B.$5,800 C.$3,200 D.$2,900 ABC Company purchased a $65,000 piece of equipment which had an expected life of 10 years and a scrap value…Subject :- Accounting You have discussed your retirement plans with your significant other and plan to move to a state with a lower cost of living upon retirement. You plan on living off $85,000 annually. You understand that your retirement account will likely yield a 5% return. Using the 4% Rule, how much money do you need in your retirement account upon retirement?(round to the nearest dollar){DO NOT INCLUDE COMMAS OR $}