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2 answers:
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Answer: 1) $9000
2) $5340
3)59.3%
Step-by-step explanation:
Since we have given that
Worth of life insurance = $60000
Amount of premium = $900
After the end of 10 years,
1) Amount of premium Tom had paid is given by
2) At the end of 10 years ,
The cash value of his policy by using the table is given by
3) At the end of 10 years ,
Ratio of cash value to premiums paid be