Questions from Financial Algebra

Q: Use the mortality table to answer parts a and b.

Use the mortality table to answer parts a and b. a. If the company insures 10,000 63-year-old males, how many are expected to die before their 64th birthday? Round to the nearest integer. b. Based...

Q: The Lieberman Insurance Company sells a 5-year term insurance policy

The Lieberman Insurance Company sells a 5-year term insurance policy with face value of $250,000 to a 39-year-old man for an annual premium of $973. The mortality table is given below. a. Assume the...

Q: Deanna is 62 years old. She plans to retire in 3

Deanna is 62 years old. She plans to retire in 3 years. She has $300,000 in a savings account that yields 2.25% interest compounded daily. She has calculated that her final working year’s salary will...

Q: How can the quote be interpreted in the context of what you

How can the quote be interpreted in the context of what you have learned in this section about Social Security?

Q: Mitch opened a retirement account that has an annual rate of 2

Mitch opened a retirement account that has an annual rate of 2.2% compounded annually. He is planning on retiring in 13 years. How much must he deposit into that account each year so that he can have...

Q: Hillary’s employer offers an annual pension benefit for employees that have worked

Hillary’s employer offers an annual pension benefit for employees that have worked for the company for more than 10 years. The benefit is calculated by multiplying 5.08% of the career average salary b...

Q: Hannah contributed $300 per month into her retirement account in pre

Hannah contributed $300 per month into her retirement account in pre-tax dollars during the last tax year. Her taxable income for the year was $72,000. She files taxes as a single taxpayer. a. What...

Q: Regina is a 45-yearold supervisor for a communications company.

Regina is a 45-yearold supervisor for a communications company. Her tax filing status is married filing separately. She withdrew $50,000 from her tax-deferred retirement account to pay off her loans....

Q: Circuit Technologies offers their employees a flat pension plan in which a

Circuit Technologies offers their employees a flat pension plan in which a predetermined dollar amount (multiplier) is multiplied by the number of years of service to determine the monthly pension ben...

Q: Petra’s employer offers an annual pension benefit calculated by multiplying 2.

Petra’s employer offers an annual pension benefit calculated by multiplying 2.46% of the career average salary times the number of years employed. Here are Petra’s annual salaries over the last 16 yea...