Faisal has insured his vehicle with AXA insurance company. Throughout the year he experiences a loss in January costing 2,011, another in May costing 1,404 and the last in December costing 2,812. If Faisal has a straight deductible of 384. How much will the insurer pay?
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- Question 1 (1 point) Chad and Jason Roberts paid $8,500 during the year for childcare for their three children, aged 2, 6 and 11. Chad’s annual salary was $12,000 and Jason’s annual salary was $42,000. Chad can deduct the $8,500 paid from his income. Question 1 options: a) True b) False Question 2 (1 point) The entire amount of retiring allowance received must be included in income, even if some part of the allowance was transferred to an RRSP. Question 2 options: a) True b) False Question 3 (1 point) Saved The amount earned in a Tax Free Savings Account (TFSA) is not subject to taxation; however, the withdrawals from a TFSA are taxed in the hands of the recipient. Question 3 options: a) True b) False Question 4 (1 point) All…On May 11, Ali joined a gulf club. His bank will automatically deduct BD 120 from his checking account at the end of each month, and deposit it into his gulf club account, where it will earn 8% annual interest. The account comes to term on October 7. Find the following: a. Find the future value of Ali's gulf club account. b. Find Ali's total contribution to the account. C. Find the total interest earned on the account.A2 6 c Ms. Cressida bought a car for $48,000 exactly three years ago. After making an up-front equity payment of $5,000, she borrowed the rest of the car value from her bank in the form of a five-year loan. She negotiated a loan rate of 2.5% APR with semi-annual compounding. She makes loan payments of an equal dollar amount every two weeks (i.e., biweekly), and her first loan payment was due two weeks after she signed the loan contract. c. What is Cressida’s biweekly loan payment?
