An insured 25 year old purchased a $75,000, 20-year endowment policy. Five years later he needed to borrow $30,000. After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)

Question

An insured 25 year old purchased a $75,000, 20-year endowment policy. Five years later he needed to borrow $30,000. After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)​

Nazifa Ali Juma · Accepted Answer

Final Answer : $17,025

An insured 25 year old purchased a $75,000, 20-year endowment policy. Five years later he needed to borrow $30,000. After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)

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An insured 25 year old purchased a $75,000, 20-year endowment policy. Five years later he needed to borrow $30,000. After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)​

Definitions

Learning Objectives

Learning Objectives

Related questions

An insured 25 year old purchased a $75,000, 20-year endowment policy. Five years later he needed to borrow $30,000. After borrowing the maximum on his insurance, how much more did the insured need to borrow elsewhere? Refer to Tables 12-1 and 12-2. (1 year = 12 months.)