Question: Question 1 A person s $ 1 4 0 , 0 0 0 life assurance benefit is to be invested at j 4 = 9

Question 1 A persons $140,000 life assurance benefit is to be invested at j4=9% p.a. with quarterly payments of $5,000, beginning immediately, made to the surviving spouse for life. On the payment date immediately following the spouses death, the remainder is to be gifted to the Salvation Army. If the spouse lives for a further five years and eight months, what does the Salvation Army receive? - in excel

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