Question: Peter decides to use the $ 2 8 , 0 0 0 cash value in his life insurance policy to purchase an extended term policy.

Peter decides to use the $28,000 cash value in his life insurance policy to purchase an extended term policy. The policy's original face value was $100,000; the extended term policy will provide coverage for the next 15 years. Peter is the insured. If he dies during the next 15 years, how much will his beneficiary receive?

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