At age 70, fiona lives alone, owns a house valued at $350,000, and has paid off the mortgage completely. fiona has no other assets to live on. she can choose a reverse mortgage that gives her payments of $32,000 a year for 10 years or one that pays her $20,000 a year for as long as she lives in the house. fiona opts for the $32,000-a-year reverse mortgage. did fiona do the right thing, considering that women of her age live 14 more years on average? a~ yes, because she can live rent-free for 10 years and receives a larger income for those years. b~ yes, because she gets value out of the house in a form she can use. c~ no, because she may be unable to live in the house that long or if she lives longer, she will be broke. d~ no, because reverse mortgages only make sense for people under 50 years old.

A~ Yes, because she can live rent-free for 10 years and receives a larger income for those years.

Step-by-step explanation:

Reverse mortgage loans allow homeowners to convert their home equity into cash income with no monthly mortgage payments.

It is a type of loan for seniors age 62 and older.

So, given is Fiona is 70 years, this age condition is checked.

Fiona opts for the $32,000-a-year reverse mortgage for 10 years. Also given that women of her age live 14 more years on average.

So, yes she did the right thing. She can live rent-free for 10 years and receives a larger income for those years.

If she lives beyond 10 years, she must have saved enough by that time.

answer: a. 13/44

step-by-step explanation: judging by the information given to us, we are looking for experimental probability. we can see that 13 males have chosen chocolate ice cream. there are 44 ice creams in total (remember that the total is always the denominator). so our answer is 13/44.

answer: c, the green line

step-by-step explanation:

there is no black line, eliminate b.

simple interest implies periodic payments, but the red line shows no payments, eliminate d.

simple interest has equal payments. if paid say every day, the graph is about a straight line (actually a stairstep).

the yellow line is not straight, eliminate a.

check: the green line is straight, answer is c.

simple interest with positive interest rate gives a straight line sloping up to the right. green line:

g(t) = $100 + ($200-$100) ÷ (20 years) × (t years)

= $100 + (4%/year) × ($100)(t years)

incidentally, the yellow line curving upward represents continuously compounded interest

y = $100 × 2^(t years / (14 assuming the yellow line hits $200 at 14 years. 2^0 is 1, so y(0) = $100; 2^(14/14) is 2, so y(14) = $200.