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kmonette kmonette
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10 months ago
You have been quoted a premium of $1200 per year for $1,000,000 in level-premium term life insurance for 20 years and a premium of $5325 per year for a permanent life insurance policy with an equivalent face value. If the insurer's rate of return is 5% APY, at what point will the permanent policy generate enough cash value to pay the premiums?

▸ 16.4 years

▸ 14.2 years

▸ 17.0 years

▸ 13.7 years
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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Dark_ShadowDark_Shadow
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10 months ago
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kmonette Author
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