Question: Mr. Michael's monthly insurance premium is P 500.00, payable at the end of each month. His policy matures 20 years later, after which he

Mr. Michael's monthly insurance premium is P 500.00, payable at the end

Mr. Michael's monthly insurance premium is P 500.00, payable at the end of each month. His policy matures 20 years later, after which he can withdraw all his payments plus the interest earned. If the money is worth 15% compounded monthly, how much does he expect to withdraw on the maturity of his policy?

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