Question
11. John has a life insurance policy that will pay his family $32,000 per year if he dies. If interest rates are at 2.5% when
11. John has a life insurance policy that will pay his family $32,000 per year if he dies. If interest rates are at 2.5% when the insurance company has to pay, what is the amount of the lump sum that the insurance company must put into a bank account?
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Fundamentals of Investment Management
Authors: Geoffrey Hirt, Stanley Block
10th edition
0078034620, 978-0078034626
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