Suppose you are 35 and have a $75,000 face amount, 15-year, limited-payment, participating policy dividends will be used

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Suppose You Are 35 And Have A 75 000 Face Amount 15 Year Limited Payment Participating Policy Dividends Will Be Used 1 (19.97 KiB) Viewed 28 times

Suppose you are 35 and have a $75,000 face amount, 15-year, limited-payment, participating policy dividends will be used to build up the cash value of the policy). Your annual premium is $675. The cash value of the policy is expected to be $3,000 in 15 years. Using time value of money and assuming you could invest your money elsewhere for a 8 percent annual yield, calculate the net cost of insurance. Use Exhibit 1-B. (Do not round intermediate calculations. Round time value factor to 3 decimal places and final answer to the nearest whole number.) Net cost of insurance