If Jacob lives until the end of the term of his policy, the total amount he would have paid in premiums overall is $50,850.
<h3>How much would he have paid in premiums?</h3>
Total premium payment = (face value / average premium rate) x number of years x premium
($500,000 / 1000) x $6.78 x 15 = $50,850
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1119.15×12=13,429.8 deposits per year
cost of principal
PVAO=13,429.8×((1−(1+0.04)^(−15))÷(0.04))=149,317.72
interest
13,429.8×15−149,317.72=52,129.28
down payment
178,000×0.15=26,700
intagible tax
178,000×0.002=356
Total cost
52,129.28+356+149,317.72+26,700
=228,503....answer
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Answer: 203.8 percent
Step-by-step explanation:
Answer:
12
Step-by-step explanation: