Star Wars Cereal started a program at the beginning of 2021 in which it would provide a figurine of Baby Yoda in exchange for four proof-of-purchase box tops. Star Wars Cereal estimates that 40% of box tops will be redeemed. The Baby Yoda figurines cost Yummy Rice $1.20 each. In 2021, 5,480,000 boxes of cereal were sold. By year-end 912,000 box tops had been redeemed. Required:
Calculate the premium expense that Star Wars Cereal should recognize for the year ended December 31, 2021.

In a fixed-term, level-payment reverse mortgage, sometimes called a reverse annuity mortgage, or ram, a lender agrees to pay the homeowner a monthly payment, or annuity, and expects to be repaid from the homeowner’s equity when he or she sells the home or obtains other financing to pay off the ram. consider a household that owns a $150,000 home free and clear of mortgage debt. the ram lender agrees to a $100,000 ram for 10 years at 6 percent. assume payments are made annually, at the beginning of each year to the homeowner. calculate the annual payment on the ram.