Question

Rob Petrie has a $120,000.00 whole life policy. What will the cash value of her policy be at the following anniversary dates?

(Include decimal places for cents in each answer, even when cents are not calculated. Use a thousands comma where applicable.)


Anniversary date | Cash Value

10 year Anniversary $___________

20 year Anniversary $___________

Answer 1

10 years = 10,680.00

20 years = 27,840.00

Explanation:

Hey, let me solve this for you.

The policy is worth 120,000.00, right?

Divide that by 1,000 and that gives us 120.

We then take 120 and multiply it by the 10 yr cash value, 89.

That gives us 10,680.00.

Take 120 again and multiply it by the 20 yr cash value, 232.

That results in 27,840.00.

Hope it helps!