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Susan has purchased a whole life policy with a death benefit of $500,000. Assuming that she dies in 10 years and the average inflation has
Susan has purchased a whole life policy with a death benefit of $500,000. Assuming that she dies in 10 years and the average inflation has been 3 percent, what is the value of the purchasing power of the proceeds? Use (Exhibit 1.A. Exhibit 1.8. Exhibit 1.C. Exhibit 1.D) Note: Use appropriate factor(s) from the tables provided, Round time value factor to 3 decimal places and final answer to 2 decimal places
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