lohn purchased a short-term disability policy, with a 60-day elimination period. The policy provides for 60% of pre-disability ncome for a duration of one year, and the benefits are triggered pased on the definition of "own-occupation." He experienced a qualifying disability on February 1st. Given that his monthly gross alary is $6,550, what is the amount of disability income that he vould receive in that calendar year? (Calculate your answer based on 2 equal months in the year, rather than on the exact number of days
lohn purchased a short-term disability policy, with a 60-day elimination period. The policy provides for 60% of pre-disability ncome for a duration of one year, and the benefits are triggered pased on the definition of "own-occupation." He experienced a qualifying disability on February 1st. Given that his monthly gross alary is $6,550, what is the amount of disability income that he vould receive in that calendar year? (Calculate your answer based on 2 equal months in the year, rather than on the exact number of days
Chapter3: Income Sources
Section: Chapter Questions
Problem 84P
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Transcribed Image Text:John purchased a short-term disability policy, with a 60-day
elimination period. The policy provides for 60% of pre-disability
income for a duration of one year, and the benefits are triggered
based on the definition of "own-occupation." He experienced a
qualifying disability on February 1st. Given that his monthly gross
salary is $6,550, what is the amount of disability income that he
would receive in that calendar year? (Calculate your answer based on
12 equal months in the year, rather than on the exact number of days
in each.)
$35,370
$43,230
$47,160
$58,950
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