Question
Standard Insurance is developing a long-life insurance policy for people who outlive their retirement nest egg.The policy will pay out $250,000 on your 85th birthday.You
Standard Insurance is developing a long-life insurance policy for people who outlive their retirement nest egg.The policy will pay out $250,000 on your 85th birthday.You must buy the policy on your 65th birthday.The insurance company can earn 77% on the purchase price of your policy.What is the minimum purchase price the insurance company should charge for this policy?
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Personal Finance Building Your Future
Authors: Robert B. Walker, Kristy P. Walker
1st edition
9780077861728, 978-0073530659
