Author Question: A client, age 25, is considering purchasing a 20-payment life policy with annual payments. He wants ... (Read 27 times)

RODY.ELKHALIL

  • Hero Member
  • *****
  • Posts: 591
A client, age 25, is considering purchasing a 20-payment life policy with annual payments. He wants to know how much more he will have paid the insurance company in premiums per 1,00 . coverage during the 20-year period than he can borrow on the policy at the end of the 20 years. Compute how much more the client will have to pay per thousand.

Question 2

An insured 25 year old purchased a 50,000 . 20-year endowment policy with quarterly premiums. Ten 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?



mceravolo

  • Sr. Member
  • ****
  • Posts: 349
Answer to Question 1

72 per thousand more

Answer to Question 2

8,050
(14.30  50  4  10) - (411  50)



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Egg cells are about the size of a grain of sand. They are formed inside of a female's ovaries before she is even born.

Did you know?

Pope Sylvester II tried to introduce Arabic numbers into Europe between the years 999 and 1003, but their use did not catch on for a few more centuries, and Roman numerals continued to be the primary number system.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

For a complete list of videos, visit our video library