Mathematics

4 February, 12:25

Samuel has a life insurance policy that will pay his family $40,000 per year if

he dies. If interest rates are at 4.0% when the insurance company has to pay,

what is the amount of the lump sum that the insurance company must put

into a bank account?

O

A. $1 million

O

B. $350,000

O

C. $3.5 million

O

D. $1.4 million

+3

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