On March 3, 2015, Miranda invests $15,000 into a segregated fund contract with a deferred sales charge
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Question:
On March 3, 2015, Miranda invests $15,000 into a segregated fund contract with a deferred sales charge (DSC) When Miranda withdraws her funds on May 7, 2017, the market value of her segregated fund is $16,900.
What is the net amount that Miranda will receive from the insurer if the DSC schedule is as shown in the table below Length of time after a premium is paid Charge Less than 1 year 50
1). Less than 2 years 45
2). Less than 3 years of 40
3). Less than 4 years 35
4). Less than 5 years of 30
5). Less than 6 years of 25
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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