You have life insurance which has a guaranteed cash value after 26 years of $1,995,888.00. If you

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You have life insurance which has a guaranteed cash value after 26 years of $1,995,888.00.

If you know that you can earn 7% APY on your investments. What is the maximum monthly payment on the life insurance that you would be willing to accept? (assume you have no other reasons to consider life insurance other than the rate of return).

Hint: This question is asking you to find the PMT value which would equate to the given information.

Related Book For answer-question

Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: May 08, 2024 01:41 PM

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You have life insurance which has a guaranteed cash value after 26 years of $1,995,888.00. If you

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Personal Finance Turning Money into Wealth

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