Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 53 (1 point) Pink purchased a segregated funds contract eight years ago, with a single deposit of $25,000. The policy offers a 75% maturity

image text in transcribed

Question 53 (1 point) Pink purchased a segregated funds contract eight years ago, with a single deposit of $25,000. The policy offers a 75% maturity and death benefit guarantee. No further deposits, or any withdrawals, were made after the initial date of the contract. Pink died this year at a time when the fair market value of the holdings under the contract was $16,250. How much would her sister, her named beneficiary under the contract, have received as a result of Pink's death? a $16,250 $25,000 $18.750 $0

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Gender And Finance

Authors: Ylva Baeckström

1st Edition

103205557X, 978-1032055572

More Books

Students also viewed these Finance questions

Question

Why is data gathering important?

Answered: 1 week ago

Question

What does 4C2 = 6 mean in plain language?

Answered: 1 week ago