Which of the following is true?a. A twenty year fixed rate mortgage has a lower interest rate than fifteen-year mortgage.b. A variable rate mortgage initially has a higher interest rate than a fixed rate mortgage.C. A variable rate mortgage initially has a lower interest rate than a fixed rate mortgage.d. A variable rate mortgage initially has the same interest rate than a fixed rate mortgage.Using the easy method of determining life insurance needs, which of the following amounts ofinsurance should a single person earning $100,000 a year purchase?$300,000a.b.C.d.$490,000$700,000$749,000Which of the following statements is true?a. Long term care insurance covers you as soon as you are incapacitated.b.The only requirement to collect on long term insurance is that you cannot go to thebathroom by yourself.C.The older you get; the cheaper long-term care insurance becomes.d. You have to meet all four requirements mentioned in classto collect on long term care insurance.

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Answered: Which of the following is true? a. A…

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter12: Life Insurance Planning

Section12.2: There Are Only Two Types Of Life Insurance

Problem 5CC

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