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?
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