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
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