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Alex is the policyholder and the life insured of a 1 0 0 0 0 0 0 whole life insurance policy with a CSV of

Alex is the policyholder and the life insured of a

1000000

whole life insurance policy with a CSV of

265000 .

He takes a policy loan for

200000 .

The policy loan accumulates an interest of

10000

every year. Three years later, Alex dies without ever having made a payment on the loan. Alex's CSV at the time of his death is

300000

how much will his beneficiary receive the policy?

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