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Virty [35]
3 years ago
12

Tomio, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. Using the tables found in the textbo

ok, determine the cash value of his policy at the end of 20 years.
A. $26,500
B. $30,000
C. $13,250
D. $26,000
Mathematics
2 answers:
Setler79 [48]3 years ago
7 0

Answer:

C. 13250

Step-by-step explanation:

olya-2409 [2.1K]3 years ago
6 0
<span>Tomio, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. Using the tables found in the textbook, determine the cash value of his policy at the end of 20 years. 

A. $26,500
B. $30,000
C. $13,250
D. $26,000

</span>50,000/1,000 = 50 
 265*50 = $13,250

So the cash value of this policy is $13,250
<span>
The correct answer is:
</span><span>C. $13,250</span>
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