Howard Slater, age 44, an actor, expects his income to decline in future years. He decided to
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Howard Slater, age 44, an actor, expects his income to decline in future years. He decided to take out a 20-year payment life policy with a $90,000 coverage. What will be Howards annual premium? If he decides to stop paying premiums after 15 years, what will be his cash value?
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