Paul has a life insurance policy that will pay his family $30,000 per year if he
dies. If inte...
Mathematics, 08.04.2020 23:29 dedrenabouyer
Paul has a life insurance policy that will pay his family $30,000 per year if he
dies. If interest rates are at 1.5% when the insurance company has to pay,
what is the amount of the lump sum that the insurance company must put
into a bank account?
A. $350,000
B. $3.5 million
C. $2 million
D. $1 million
Answers: 2
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