Question: Beth purchased a $ 5 0 , 0 0 0 nonparticipating whole life insurance policy. The annual premium was $ 1 , 8 8 8

Beth purchased a $50,000 nonparticipating whole life insurance policy. The annual premium was $1,888. The cash value of the policy after 10 years will be $13,740. Assuming 5% interest rates. What is the traditional net cost of this policy, per thousand per year, over the first 10 years the policy is in force? (Round your answer to 2 decimal places)

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