Question
Yen has a universal life (UL) policy with a $500,000 level death benefit and a $58,000 cash surrender value Her husband Xuan is a beneficiary
Yen has a universal life (UL) policy with a $500,000 level death benefit and a $58,000 cash surrender value Her husband Xuan is a beneficiary Yen is remodeling her kitchen and decides to pledge her policy as collateral for a $40,000 loan from her local credit union The interest rate on the loan is 35 Assuming Yen does not make any principal or interest payments, if Yen dies exactly 1 year after taking the loan, how much will Xuan receive?
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Xuan Nominee will receive 458600 in the even of death of her wife since the loan amount due to bank ...
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
