For a universal life insurance policy with a death benefit of 150,000, you are given:a) The following information:Monthly Costof InsuranceRate per 1000MonthlyExpenseChargePercent ofMonthlyPremiumPolicy YearPremiumCharge120003.5%1.0050i(12)b) i(12) = 0.06 ( monthly effective interest rate là12c) The account value at the end of month 11 is 25,000.d) The account value is updated monthly.Calculate the account value at the end of month 12.

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For a universal life insurance policy with a death benefit of 150,000, you are given: a) The following information: Monthly Cost of Insurance Monthly Expense Charge Percent of Monthly Premium Policy Year Premium Charge Rate per 1000 1 2000 3.5% 1.00 50 į(12) b) i(12) = 0.06 ( monthly effective interest rate là c) The account value at the end of month 11 is 25,000. d) The account value is updated monthly. 12 Calculate the account value at the end of month 12.

For a universal life insurance policy with a death benefit of 150,000, you are given: a) The following information: Monthly Cost of Insurance Monthly Expense Charge Percent of Monthly Premium Policy Year Premium Charge Rate per 1000 1 2000 3.5% 1.00 50 į(12) b) i(12) = 0.06 ( monthly effective interest rate là c) The account value at the end of month 11 is 25,000. d) The account value is updated monthly. 12 Calculate the account value at the end of month 12.

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

For a universal life insurance policy with a death benefit of 150,000, you are given:
a) The following information:
Monthly Cost
of Insurance
Rate per 1000
Monthly
Expense
Charge
Percent of
Monthly
Premium
Policy Year
Premium
Charge
1
2000
3.5%
1.00
50
i(12)
b) i(12) = 0.06 ( monthly effective interest rate là
12
c) The account value at the end of month 11 is 25,000.
d) The account value is updated monthly.
Calculate the account value at the end of month 12.

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