Round All Answers to Nearest Cent (As Appropriate) $\text { E. What is the cash value of policy in } D \text { at the end of } 10 \text { years? }$

question 119

Essay

Round all answers to nearest cent (as appropriate).
LIFE INSURANCE
Use tables in handbook (for females subtract three years)Calculate annual premium:
$\begin{array}{|l|l|l|l|}\hline\text { Face Value } & \text { Age \& Sex of Insured } & \text { Type of Insurance } & \text { Annual Premium } \\\hline \$ 108,000 & 21 \mathrm{M} & 5 \text {-Year Term } & \mathbf{A} \\\hline \$ 40,000 & 42 \mathrm{~F} & \text { Straight Life } & \mathrm{B} \\\hline 90,000 & 22 \mathrm{M} & \text { - } 0 \text {-Pay Life } & \mathrm{C} \\\hline \$ 120,000 & 32 \mathrm{~F} & \text { Straight Life } & \mathrm{D} \\\hline\end{array}$
$\text { E. What is the cash value of policy in } D \text { at the end of } 10 \text { years? }$

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Definitions:

Defense Spending

Government expenditure on military and defense-related activities, including salaries, equipment, research, and development.

National Debt

The total fiscal debt amassed by a country's government, sourced through a variety of methods.

Social Security Benefits

Government-provided financial assistance to eligible individuals, including retirees, disabled persons, and survivors.

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides benefits for retirees, disabled individuals, and survivors.