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Write a general equation for the reaction of an alkali

Chemistry: A Molecular Approach | 3rd Edition | ISBN: 9780321809247 | Authors: Nivaldo J. Tro ISBN: 9780321809247 1

Solution for problem 39E Chapter 8

Chemistry: A Molecular Approach | 3rd Edition

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Chemistry: A Molecular Approach | 3rd Edition | ISBN: 9780321809247 | Authors: Nivaldo J. Tro

Chemistry: A Molecular Approach | 3rd Edition

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Problem 39E

Problem 39E

Write a general equation for the reaction of an alkali metal with

a.        a halogen.

b.        water.

Step-by-Step Solution:
Step 1 of 3

FI 341 Principles of Risk Management & Insurance Review for Exam 3 Chapters 11, 12, 13, 14 * It is important for you to know all the Key Concepts and Terms for every Chapter. Chapter 11 Life Insurance Key Terms Review Questions 1.a.b.c., 3.a.b., 4.a.b., 5.a.b.c.d., 6.a.b.c.d., 7, 8.a.b. Application Questions 1., 2.a.b., 3.a.b., 4, 5, 6, 7.a.b.c.d.e.f.g., 8.a.b.c.d. Chapter 12. Life Insurance Contractual Provisions Key Terms Review Questions 1.a.b.c., 2.a.b., 3.a.b., 4.a.b.c., 5.a.b., 6.a.b., 7.a.b.c., 8.a.b.c., 9.a.b.c.d., 10 Application Questions 1.a.b.c.d.e., 2.a.b.c.d.e., 3., 4.a.b.c.d.e. Chapter 14. Annuities and Individual Retirement Accounts Key Terms Review Questions 1, 2, 3, 4, 5, 9. Application Questions 1.a.b.c., 3, 4.b., 5. (explain for Roth IRAs only) a.b.c.d. Chapter 13. Buying Life Insurance Key Terms Review Questions 6.a.b.c.d.e., 7, 8. Application Questions 4.a.b.c.d. Chapter 11: Life Insurance Key Terms:  Blackout period­ the period from the time that Social Security survivor benefits terminate to the time the benefits are resumed  Capital retention approach­ preserves the capital needed to provide income to the family  Cash surrender value­ the amount paid to a policy holder who surrenders the policy  Cash value life insurance­ the amount paid to a policyholder who surrenders the policy  Convertible­ the term policy can be exchanged for a cash value policy without evidence of insurability  Current assumption whole life insurance­ (also called interest sensitive whole life) a nonparticipating whole life policy in which the cash values are based on the insurer’s current mortality, investment, and expense experience  Dependency period­ follows the readjustment period; it is the period until the youngest child reaches age 18  Endowment insurance­ pays the face amount of insurance if the insured dies within a specific period; if the insured survives to the end of the endowment period, the face amount is paid to the policyholder at that time  Estate clearance fund­ needed immediately when the family head dies  Group life insurance­ a type of insurance that provides life insurance on a group of people in a single master contract  Human life value­ the present value of the family’s share of the deceased breadwinner’s future earnings  Indexed universal life insurance – a variation of universal life insurance with certain key characteristics; minimum interest rate guarantee; additional interest may be credited to the policy based on the investment gains of a specific stock market index  Industrial (home service) life insurance­ a class of life insurance that was issued in small amounts; premiums were payable weekly or monthly; and an agent of the company collected the premiums at the insured’s home  Legal reserve – a liability item that must be offset by sufficient financial assets  Limited payment policy­ another type of traditional whole life insurance; permanent; life time protection  Modified life policy­ a whole life policy in which premiums are lower for the first three to five years and higher thereafter  Needs approach­ the various family needs that must be met if the family head should die are analyzed, and the amount of money needed to meet these needs is determined  Net amount at risk­ the difference between the legal reserve and face amount of insurance  Ordinary life insurance­ a level premium policy that provides cash values and lifetime protection to age 121  Preferred risks – life insurers sell policies at lower rates in individuals  Premature death­ can be defined as the death of a family head with outstanding unfulfilled financial obligations  Readjustment period­ a one or two­year period following the breadwinner’s death  Reentry term­ a term insurance policy in which renewal premiums are based on select (lower) mortality rates if the insured can periodically demonstrate acceptable evidence of insurability  Renewable – the policy can be renewed for additional periods without evidence of insurability  Savings bank life insurance (SBLI)­ a type of life insurance that was sold originally by savings banks in MA, NY, and CN; it provides low­cost life insurance to consumers by holding down operating costs and payment of high sales commissions  Second to die life insurance­ (also called survivorship life) is a form of life insurance that insures two or more lives and pays the death benefit upon the death of the second or last insured  Single premium whole life insurance­ provides lifetime protection with a single premium  Term insurance­ provides temporary protection  Universal life insurance­ (also called flexible premium life insurance) a flexible premium policy that provides protection under a contract that unbundles the protection and saving components  Variable life insurance – a fixed premium policy in which the death benefit and cash values vary according to the investment experience of a separate account maintained by the insurer  Variable universal life insurance­ an important variation of whole life insurance; most are sold as investments or tax shelters; the policyholder determines how the premiums are invested, which provides considerable investment flexibility; the policy does not guarantee a minimum interest rate or minimum cash value  Whole life insurance – a cash value policy that provides lifetime protection Review Questions: 1. a. premature death­ can be defined as the death of a family head with outstanding unfulfilled financial obligations b. costs associated with premature death­ 1) the family’s share of the deceased breadwinner’s future earnings is lost forever; 2) additional expenses are incurred because of funeral expenses, uninsured medical bills and estate settlement costs; 3) insufficient income; 4) certain noneconomic costs are incurred (intense grief, loss of parental role model, and counseling and guidance for the children) c. economic justification for the purchase of life insurance­ if the insured has earned income, and others are dependent on those earnings for part or all of their financial support 3. a. human life value­ the present value of the family’s share of the deceased breadwinner’s future earnings b. steps in determining the human life value of a family head­ 1) estimate the individual’s average annual earnings over his or her productive lifetime; 2) deduct federal and state income taxes, Social Security taxes, life and health insurance premiums, and the costs of self maintenance; 3) determine the number of years from the person’s present age to the contemplated age of retirement; 4) using a reasonable discount rate, determine the present value of the family’s share of earnings for the period 4. a. needs approach­ 1) cash needs­ funeral expenses, medical services, car loan and credit card debts, probating will and attorney fees; 2) income needs­ money to keep standard of living, retirement income; 3) special needs­ house mortgage, emergency fund, and an educational fund b. capital retention approach for determining the amount of life insurance to own­ 1) prepare a personal balance sheet; 2) determine the amount of income producing capital; 3) determine the amount of additional capital needed 5. a. basic characteristics of term insurance­ 1) the period of protection is temporary, unless renewed protection expires at the end of the period; 2) renewable; 3) convertible; 4) no cash value or savings element b. the major types of term insurance sold today­ 1) yearly renewable term; 2) 5, 10, 15, 20, 25, or 30­ year term; 3) term to age 65; 4) decreasing term; 5) reentry term; 6) return of premium term insurance c. the situations that justify the purchase of term insurance­ 1) if the amount of income that can be spent on life insurance is limited; 2) if the need for protection is temporary; 3) guarantee future insurability d. the major limitations of term insurance­ 1) term insurance premiums increase with age at an increasing rate and eventually reach prohibitive levels; 2) term insurance is inappropriate if you wish to save money for a specific need 6. a. the basic characteristics of ordinary life policies­ a level premium policy that provides cash values and lifetime protection until age 121; 1) premiums are level throughout the premium paying period; 2) the accumulation of cash surrender values, which is the amount paid to a policyholder who surrenders the policy b. why does an ordinary life insurance policy develop a legal reserve – because state law regulates the method of investing and accumulating the fund; it is a liability item that must be offset by sufficient financial assets c. situations that justify the purchase of ordinary life insurance­ appropriate when lifetime protection is needed; can also be used to save money d. the major limitation of ordinary life insurance­ some people are still underinsured after the policy is purchased 7. basic characteristics of variable life insurance­ a fixed premium policy in which the death benefit and cash values vary according to the investment experience of a separate account maintained by the insurer; a permanent whole life contract with a fixed premium; the entire reserve is held in a separate account and is invested in common stocks or other investments; cash surrender values are not guaranteed, and there are no minimum guaranteed cash values 8. a. basic characteristics of universal life policies­ 1) unbundling of protection and saving component; 2) two forms of universal life insurance; 3) considerable flexibility; 4) cash withdrawals permitted; 5) favorable income tax treatment b. limitations of universal life insurance­ 1) misleading rates of return; 2) decline in interest rates; 3) right to increase the mortality charge; 4) lack of firm commitment to pay premiums Application Questions: 1. Richard’s human life value­ 1) estimate Richard’s average annual earnings over his productive lifetime­ $60,000; 2) deduct federal and state income taxes, SS taxes, and health insurance premiums, and the cost of self maintenance­ 1/3 of Richard’s annual earnings­ $60,000­20,000=$40,000; 3) determine the number of years from the person’s present age to the contemplated age of retirement­ 20 years; 4) using a reasonable discount rate, determine the present value of the family’s share of earnings for the period determined in step 3­ $11.47 ­­­ ($40,000 X $11.47= $458,800) Chapter 12: Life Insurance Contractual Provisions Key Terms:  Absolute assignment­ all ownership rights in the policy are transferred to a new owner  Accelerated death benefits­ policy that allows part or all of the life insurance face amount to be paid to a chronically or terminally ill policyholder  Accidental death benefit rider (double indemnity)­ doubles the face amount of life insurance if death occurs as a result of an accident  Automatic premium loan provision­ an overdue premium is automatically borrowed from the cash value after the grace period expires, provided the policy has a loan value sufficient to pay the premium  Aviation exclusion­ policy excludes death due to aviation  Change of plan provision­ allows policyholders to exchange their present policies for different contracts  Class beneficiary­ a specific person is not named but is a member of a group designated as beneficiary, such as “children of the insured”  Collateral assignment­ the policy holder temporarily assigns a life insurance policy to a creditor as collateral for a loan; only certain rights are transferred to the creditor to protect its interest, and the policy holder retains the remaining rights  Contingent beneficiary­ entitled to the proceeds if the primary beneficiary dies before the insured  Cost of living rider­ allows the policy holder to purchase one­year term insurance equal to the percentage change in the consumer price index with no evidence of insurability  Dividend accumulation option­ 1) cash; 2) reduction of premiums; 3) dividend accumulations; 4) paid up additions  Entire contract clause­ states that the life insurance policy and attached application constitute the entire contract between the parties  Extended term insurance option­ the net cash surrender value is used as a net single premium to extend the full face amount of the policy (less any indebtedness) into the future as term insurance for a certain number of years and days  Fixed amount (income of elected amount) option­ a fixed amount is periodically paid to the beneficiary  Fixed period (income for elected period) option­ the policy proceeds are paid to a beneficiary over some fixed period of time  Grace period­ the policyholder has a period of 31 days to pay an overdue premium  Guaranteed purchase option­ gives policyholders the right to purchase additional amounts of life insurance at specified time in the future without evidence of insurability  Incontestable clause­ the insurer cannot contest the policy after it has been in force two years during the insured’s lifetime  Interest option­ the policy proceeds are retained by the insurer, and interest is periodically paid to the beneficiary  Irrevocable beneficiary­ one that cannot be changed without the beneficiary’s consent  Life income options­ 1) life income­ installment payments are paid only while the beneficiary is alive and cease on the beneficiary’s death; 2) life income with guaranteed period­ if the primary beneficiary dies before receiving the guaranteed number of years of payments, the remaining payments are paid to a contingent beneficiary; 3) life income with guaranteed total amount­ if the beneficiary dies before receiving installment payments equal to the total amount of insurance placed under the option, the payments continue until the total amount paid equals the total amount of insurance; 4) joint and survivor income­ income payments are paid to two persons during their lifetimes, such as a husband and wife  Life settlement – a financial transaction by which a policy holder who no longer needs or wants to keep a life insurance policy sells the policy to a third party for more than its cash value  Misstatement of age or sex clause­ if the insured’s age or sex is misstated, the amount payable is the amount that the premiums paid would have purchased at the correct age and sex  Nonforfeiture laws­ require insurers to provide at least a minimum non forfeiture value to policyholders who surrender their policies  Nonforfeiture options­ 1) cash value; 2) reduced paid up insurance; 3) extended term insurance  Nonparticipating policy­ a policy that does not pay premiums  Ownership clause­ the policyholder possesses all contractual rights in the policy while the insured is living  Paid up additions option­ the dividend is used to purchase a small amount of paid up whole life insurance  Participating policy­ a policy that pays premiums  Policy loan provision­ allows the policyholder to borrow the cash value  Primary beneficiary­ the beneficiary who is first entitled to receive the policy proceeds on the insured’s death  Reduced paid up insurance option­ the cash surrender value is applied as a net single premium to purchase a reduced paid up policy  Reinstatement provision­ permits the owner to reinstate a lapsed policy­ 1) evidence of insurability is required; 2) all overdue premiums plus interest must be paid from their respective due dates; 3) any policy loan must be repaid or reinstate, with interest from the due date of the overdue premium; 4) the policy must not have been surrendered for its cash value; 5) the policy must be reinstated within a certain period, typically three or five years from the date of lapse  Revocable beneficiary­ the policyholder reserves the right to change the beneficiary designation without the beneficiary’s consent  Settlement options­ refer to the various ways that the policy proceeds can be paid  Specific beneficiary­ the beneficiary is specifically named and identified  Suicide clause­ if the insured commits suicide within two years after the policy is issued, the face amount of insurance will not be paid; there is only a refund of the premiums paid  Viatical settlement­ the sale of a life insurance policy by a terminally ill insured to another party, typically to investors or investor groups who hope to profit by the insureds early death  Waiver of premium provision – if the insured becomes totally disabled from bodily injury or disease before some stated age, all premiums coming due during the period of disability are waived  War clause­ a policy that does not include death by war Review Questions: 1. life insurance contractual provisions: a. suicide clause­ if the insured commits suicide within two years after the policy is issued, the face amount of insurance will not be paid; there is only a refund of the premiums paid b. grace period­ the policyholder has a period of 31 days to pay an overdue premium c. reinstatement clause­ permits the owner to reinstate a lapsed policy­ 1) evidence of insurability is required; 2) all overdue premiums plus interest must be paid from their respective due dates; 3) any policy loan must be repaid or reinstate, with interest from the due date of the overdue premium; 4) the policy must not have been surrendered for its cash value; 5) the policy must be reinstated within a certain period, typically three or five years from the date of lapse 2. a. incontestable clause­ the insurer cannot contest the policy after it has been in force two years during the insured’s lifetime b. purpose of the incontestable clause­ protect the beneficiary if the insurer tries to deny payment of the claim years after the policy was first issued 3. a. requirements for reinstating a lapsed life insurance policy­ permits the owner to reinstate a lapsed policy­ 1) evidence of insurability is required; 2) all overdue premiums plus interest must be paid from their respective due dates; 3) any policy loan must be repaid or reinstate, with interest from the due date of the overdue premium; 4) the policy must not have been surrendered for its cash value; 5) the policy must be reinstated within a certain period, typically three or five years from the date of lapse b. advantages and disadvantages of reinstating a lapsed life insurance policy­ 1) the acquisition expenses incurred in issuing the policy must be paid again if a new policy is purchased; 2) the incontestable period and suicide period under the old policy may have expired; 3) a substantial cash outlay is required is the policy lapsed several years earlier 4. beneficiary designations: a. primary and contingent beneficiary­ 1) the beneficiary who is first entitled to receive the policy proceeds on the insured’s death; 2) entitled to the proceeds is the primary beneficiary dies before the insured b. revocable and irrevocable beneficiary­ 1) the policyholder reserves the right to change the beneficiary designation without the beneficiary’s consent; 2) one that cannot be changed without the beneficiary’s consent c. specific and class beneficiary­ 1) the beneficiary is specifically named and identified; 2) a specific person is not named but is a member of a group designated as beneficiary, such as “children of the insured” 5. a. absolute assignment­ all ownership rights in the policy are transferred to a new owner b. collateral assignment­ the policy holder temporarily assigns a life insurance policy to a creditor as collateral for a loan; only certain rights are transferred to the creditor to protect its interest, and the policy holder retains the remaining rights 6. cash value life insurance policy: a. why is interest charged on a policy loan­ the insurer assumes a certain interest rate when premiums, legal reserves dividends, and surrender values are calculated b. advantages and disadvantages of a policy loan­ 1) relatively low rate of interest that is paid; 2) no credit check on the policyholder’s ability to repay the loan; 3) policyholder is not legally required to repay the loan 7. participating policy: a. sources from which dividends can be paid­ 1) the difference between expected and actual mortality experience; 2) excess interest earnings on the assets required to maintain legal reserves; 3) the difference between expected and actual operating expenses b. various dividend options in a typical life insurance policy­ 1) cash; 2) reduction of premiums; 3) dividend accumulations; 4) paid up additions; 5) term insurance c. can an insurer guarantee the payment of a dividend­ no 8. non­forfeiture laws that require the payment of a cash surrender value when a cash value policy is surrendered: a. cash value option­ the policy can be surrendered for its cash values, at which time all benefits under the policy cease b. reduced paid up insurance­ the cash surrender value is applied as a net single premium to purchase a reduced paid up policy c. extended term insurance­ the net cash surrender value is used as a net single premium to extend the full face amount of the policy (less any indebtedness) into the future as term insurance for a certain number of years and days 9. settlement options: a. interest option­ the policy proceeds are retained by the insurer, and interest is periodically paid to the beneficiary b. fixed period option­ the policy proceeds are paid to a beneficiary over some fixed period of time c. fixed amount option­ a fixed amount is periodically paid to the beneficiary d. life income option­ 1) life income­ installment payments are paid only while the beneficiary is alive and cease on the beneficiary’s death; 2) life income with guaranteed period­ if the primary beneficiary dies before receiving the guaranteed number of years of payments, the remaining payments are paid to a contingent beneficiary; 3) life income with guaranteed total amount­ if the beneficiary dies before receiving installment payments equal to the total amount of insurance placed under the option, the payments continue until the total amount paid equals the total amount of insurance; 4) joint and survivor income­ income payments are paid to two persons during their lifetimes, such as a husband and wife 10. total disability that is found in a typical waiver of premium provision­ if the insured becomes totally disabled from bodily injury or disease before some stated age, a premiums coming due during the period of disability are waived Application Questions: 1. dividend options: a. reduced premiums b. paid up additions c. cash d. paid up additions e. paid up additions 2. contractual provisions and policy benefits: a. fixed amount option b. waiver of premium provision c. life income option d. accelerated death benefits e. guaranteed purchase option 3. incontestable clause­ the insurer cannot contest the policy after it has been in force two years during the insured’s lifetime 4. riders and options: a. waiver of premium provisions­ if the insured becomes totally disabled from bodily injury or disease before some stated age, all premiums coming due during the period of disability are waived b. guaranteed purchase option­ gives policyholders the right to purchase additional amounts of life insurance at specified time in the future without evidence of insurability c. double indemnity rider­ doubles the face amount of life insurance if death occurs as a result of an accident d. cost of living rider­ allows the policy holder to purchase one­year term insurance equal to the percentage change in the consumer price index with no evidence of insurability e. accelerated benefits rider­ policy that allows part or all of the life insurance face amount to be paid to a chronically or terminally ill policyholder Chapter 13: Buying Life Insurance Key Terms:  Certified financial planner (CFP)­ professional  Chartered financial consultant (ChFC)­ professional  Chartered life underwriter (CLU)­ professional  Interest adjusted cost method­ the time value of money is taken into consideration by applying an interest factor to each element of cost  Linton yield­ the average annual rate of return on a cash value policy if it is held for a specified number of years  Net payment cost index­ measures the relative cost of a policy if death occurs at the end of some specified time period such as 10 or 20 years  No load or low load life insurance­  Surrender cost index­ measures the cost of life insurance if you surrender the policy at the end of some time period such as 10 or 20 years  Traditional net cost method­ the annual premiums are added together  Yearly rate of return method­ i= (CV+D)+(YPT)(DB­CV)(.001)/(P+CVP) ­1 Review Questions: 1. basic defect in the traditional net cost method of determining the cost of life insurance­ it does not consider the time value of money 2. a. interest adjusted cost method a more accurate measure of the cost of life insurance­ the time value of money is taken into consideration by applying an interest factor to each element of cost b. surrender cost index­ measures the cost of life insurance if you surrender the policy at the end of some time period such as 10 or 20 years c. net payment cost index­ measures the relative cost of a policy if death occurs at the end of some specified time period such as 10 or 20 years 3. why is the rate of return on the saving component in most cash value policies negative during the early years of the policy­ 4. Linton yield­ the average annual rate of return on a cash value policy if it is held for a specified number of years 5. yearly rate of return­ i= (CV+D)+(YPT)(DB­CV)(.001)/(P+CVP) ­1 6. federal income tax treatment of a cash value policy with respect to: a. payment of premiums­ not deductible for income tax purposes b. annual dividends­ income tax free c. annual increase in the cash value­ income tax free d. payment of death proceeds to a stated beneficiary­ generally income tax free 7. federal estate tax treatment of life insurance death proceeds­ the entire proceeds are included in the gross estate of the insured for tax purposes 8. suggestions when buying life insurance­ 1) determine whether you need life insurance; 2) estimate the amount of life insurance you need; 3) decide on the best type of life insurance for you; 4) decide whether you want a policy that pays dividends; 5) shop around for a low cost policy; 6) consider the financial strength of the insurer; 7) deal with a competent agent 9. required information life insurers to disclose certain policy information to applicants for life insurance­ 1) how the policy functions; 2) underwriting class; 3) death benefit option; 4) payment of premiums; 5) any riders; 6) annual report on the policy with any changes Application Questions: 4. income tax return: a. a lump sum payment to a beneficiary is not taxable income b. cash value increase does not have to be reported as taxable income c. premiums paid for individual life insurance policies are not deductible for income tax purposes d. cash dividends do not have to be reported as taxable income Chapter 14: Annuities and Individual Retirement Accounts Key Terms:  Accumulation period­ period it is accumulated  Accumulation unit­ premiums are used to purchase these  Annuitant­ the person who receives the periodic payments or whose life governs the duration of payments  Annuity­ a periodic payment that continues for a fixed period or for the duration of a designated life or lives  Annuity settlement options­ 1) cash option; 2) life annuity (no refund); 3) life annuity with guaranteed payments; 4) installment refund option; 5) joint and survivor annuity; 6) inflation indexed annuity option  Annuity unit­ at retirement, accumulation units are converted into annuity units  Cash refund option­ if the annuitant dies before receiving total payments equal to the purchase price of the annuity, the balance is paid in a lump sun to the beneficiary  Deferred annuity­ provides income payments at some future date  Equity indexed annuity­ a fixed, deferred annuity that allows the annuity owner to participate in the growth of the stock market and also provides downside protection against the loss of principal and prior interest earnings if the annuity is held to term  Exclusion ratio­ determined by dividing the investment in the contract by the expected returns  Fixed annuity­ pays periodic income payments that are guaranteed and fixed in amount  Flexible premium annuity­ allows the annuity owner to vary the premium payments  Immediate annuity­ the first payment is due one payment interval from the date of purchase  Individual retirement account (IRA)­ allows workers with taxable compensation to make annual contributions to a retirement plan up to certain limits and receive favorable income tax treatment  Inflation indexed annuity option­ provides periodic payments that are adjusted for inflation  Installment refund option­ pays a life income to the annuitant  IRA rollover account­ a rollover is a tax free distribution of cash or other property from one retirement plan, which is then deposited into another retirement plan  Joint and survivor annuity option­ pays benefits based on the lives of two or more annuitants, such as a husband and wife or a brother and sister  Life annuity (no refund)­ provides a life income to the annuitant only while the annuitant is alive  Life annuity with guaranteed payments (life annuity with period certain)­ pays a life income to the annuitant with a certain number of guaranteed payments such as 5, 10, 15, or 20 years; if the annuitant dies before the guaranteed number of payments, the remaining payments are paid to a designated beneficiary  Liquidation period­ follows the accumulation period and refers to the period in which the funds are being paid to the annuitant  Longevity insurance­ a generic name for a single premium deferred annuity that begins paying benefits only at an advanced age, typically age 85  Nondeductible IRA­ taxpayers with incomes that exceed the phase out limits can contribute to a traditional IRA but cannot deduct their contributions  Roth IRA­ another type of IRA that provides substantial tax advantages; the annual contributions to a Roth IRA are not tax deductible  Single premium deferred annuity­ a deferred annuity purchased with a lump sum  Spousal IRA­ allows a spouse who is not in the paid labor force to make a fully deductible contribution to a traditional IRA up to the annual dollar limit even though the other spouse is covered under a retirement plan at work  Traditional IRA­ an IRA that allows workers to take a tax deduction for part or all of their IRA contributions  Variable annuity­ pays a lifetime income, but the income payments vary depending on common stock prices; the fundamental purpose of a variable annuity is to provide an inflation hedge my maintaining the real purchasing power of the periodic payments during retirement Review Questions: 1. life insurance is for protecting your loved ones after you die, while annuities are periodic payments to a specific person for a specific time 2. fixed annuity­ pays periodic income payments that are guaranteed and fixed in amount; accumulation period vs. liquidation period; immediate annuity vs. deferred annuity; single premium deferred annuity vs. flexible premium annuity; annuity settlement options 3. annuity settlement options­ 1) cash option; 2) life annuity (no refund); 3) life annuity with guaranteed payments; 4) installment refund option; 5) joint and survivor annuity; 6) inflation indexed annuity option 4. variable annuity­ pays a lifetime income but the income payments vary depending on common stock prices; guaranteed death benefits; fees and expenses 5. equity indexed annuity­ a fixed, deferred annuity that allows the annuity owner to participate in the growth of the stock market and also provides downside protection against the loss of principal and prior interest earnings if the annuity is held to term; participation rate; maximum cap rate or cap; indexing method; guaranteed minimum value 9. Roth IRA­ another type of IRA that provides substantial tax advantages; the annual contributions to a Roth IRA are not tax deductible; the investment income accumulates income tax free, and qualified distributions are not taxable if certain requirements are met; 1) age 59 ½ or older; 2) disabled; 3) distribution is paid to a beneficiary or to the estate after the individual’s death; 4) distribution is used to pay qualified first time home buyer expenses Application Questions: 1. compare and contrast a (1) fixed annuity with a (2) variable annuity: a. determining how the premiums are invested­ (1)­ ; (2)­ the premiums are used to purchase accumulation units b. stability of income payments after retirement­ c. death benefits if the annuitant dies before retirement­ (2)­ if the annuitant dies during the accumulation period, the amount paid to the beneficiary will be the higher of two amounts: the account value of the annuity or the amount of total premiums paid adjusted for any withdrawals 3. he must report $6000 on his tax return 4. b. 5. (explain for Roth IRAs only) a. income tax treatment of IRA contributions and distributions­ investment income accumulates tax free b. income limits for eligibility­ single person­ $110,000; married couple­ $173,000 c. determining how the IRA contributions are invested­ d. eligibility, if any, of a spouse who is not in the paid labor force to make an IRA contribution­

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Chapter 8, Problem 39E is Solved
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Textbook: Chemistry: A Molecular Approach
Edition: 3
Author: Nivaldo J. Tro
ISBN: 9780321809247

This textbook survival guide was created for the textbook: Chemistry: A Molecular Approach, edition: 3. Since the solution to 39E from 8 chapter was answered, more than 359 students have viewed the full step-by-step answer. This full solution covers the following key subjects: alkali, equation, general, halogen, metal. This expansive textbook survival guide covers 82 chapters, and 9454 solutions. The answer to “Write a general equation for the reaction of an alkali metal witha. a halogen.b. water.” is broken down into a number of easy to follow steps, and 15 words. The full step-by-step solution to problem: 39E from chapter: 8 was answered by , our top Chemistry solution expert on 02/22/17, 04:35PM. Chemistry: A Molecular Approach was written by and is associated to the ISBN: 9780321809247.

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Write a general equation for the reaction of an alkali