How much will you have contributed to a 20-Payment Life insurance policy that has a face value of $45,200 over a 15-year period,
2 answers:
Answer:
The correct option is <u>b) $22,455.36</u>
Step-by-step explanation:
We need to calculate the total amount contribute to a 20-payment life insurance policy.
Given face value is $45,200 over 15-year period and
payment insurance amount for a healthy 35-year old female is $33.12 per thousand
Given that $33.12 per thousand so, $0.03312 per $1
As a face value of $45,200 over 15-year period
so,
⇒ $22,455.36
Hence, The correct option is <u>b) $22,455.36</u>
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