Author Question: At age 20, Zia purchased a 20-payment life insurance policy with face value of 415,000. She is now ... (Read 234 times)

olgavictoria · **on:** Jun 24, 2018

At age 20, Zia purchased a 20-payment life insurance policy with face value of 415,000. She is now 40 and wants to cancel her policy. Use Table 19-3 from your text to calculate the amount of reduced paid-up insurance to which she is entitled.
A) 41,500
B) 354,665
C) 382,530
D) 415,000

Question 2

Mary earned 41,258.75 for the past calendar year. How much did she pay for the year in social security and Medicare taxes? (Social Security Tax is 6.2 of gross wages up to 117,000. Medicare Tax is 1.45 of all gross wages.)
A) 2,931.25
B) 3,225.31
C) 3,156.29
D) 3,425.31