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Author Question: An insured 25 year old purchased a 60,000 . 20-payment life policy with semiannual premiums. Five ... (Read 71 times)

Awilson837

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on: Jun 24, 2018
An insured 25 year old purchased a 60,000 . 20-payment life policy with semiannual premiums. Five years later he needed the maximum loan available on the policy. How much more had the insured paid in premiums than he could borrow on the policy?

Question 2

An insured 25 year old purchased a 30,00 . straight-life policy with annual premiums. Four years later she needed the maximum loan available on the policy. How much more had the insured paid in premiums than she could borrow on the policy?


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AaaA

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Reply #1 on: Jun 24, 2018
Answer to Question 1

4,176
(16.26  60  2  5) - (93  60)

Answer to Question 2

1,404
(17.20  30  4  1) - (22  30)


Awilson837

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

Liamb2179

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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