Shelly purchased a $50,000 nonparticipating whole life insurance policy. The annual premium was $1,278. The cash value

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Shelly purchased a $50,000 nonparticipating whole life insurance policy. The annual premium was $1,278. The cash value of the policy after 10 years will be $13,740. Assuming 5 percent interest.

What is the surrender cost of this policy, per thousand per year, over the first 10 years the policy is in force?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Jul 10, 2023 03:13 AM

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Shelly purchased a $50,000 nonparticipating whole life insurance policy. The annual premium was $1,278. The cash value

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To calculate the surrender cost of the policy we need to first determine the total premiums paid ... View the full answer

Personal Finance Turning Money into Wealth

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