An insured 27 year old purchased a 60,000 . 20-year endowment ...

[Pea0909berry]

An insured 27 year old purchased a 60,000 . 20-year endowment policy with premiums payable annually. How much more did the insured pay the insurance company in premiums during his lifetime than he would have paid had he chosen a 20-payment life policy for the same amount and with annual premiums?

Question 2

An insured 27 year old purchased a 120,000 . 20-year endowment policy with premiums payable semiannually. Compute the amount the insured paid the insurance company in premiums during his lifetime.

[Joy Chen]

Answer to Question 1

24,948

Answer to Question 2

132,768

[Pea0909berry]

Wow, this really help

[meganmoser117]

Thanks for the timely response, appreciate it