Maxwell Kaffe had a life insurance policy with a face value of $100,000 with a cash...

 

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Maxwell Kaffe had a life insurance policy with a face value of $100,000 with a cash value of $35,000. He subsequently borrowed $28,000 from the policy and always paid interest, though no principla, until his untimely death. What would be the amount of the benefits that his beneficiary would receive? Question 2 Laura is a single young professional with a gross income of $45,000. Laura has $1000 adjustments to gross income and she has itemized deductions totaling $3500. If personal exemptions for the year are $2750 each, and the standard deduction is $4300, what is Laura's adjustable gross income? Maxwell Kaffe had a life insurance policy with a face value of $100,000 with a cash value of $35,000. He subsequently borrowed $28,000 from the policy and always paid interest, though no principla, until his untimely death. What would be the amount of the benefits that his beneficiary would receive? Question 2 Laura is a single young professional with a gross income of $45,000. Laura has $1000 adjustments to gross income and she has itemized deductions totaling $3500. If personal exemptions for the year are $2750 each, and the standard deduction is $4300, what is Laura's adjustable gross income?

Answer rating: 100% (QA)

Question 1 In the case of Maxwell Kaffe the amount of benefits that his beneficiary would re... View the full answer