An insured 27 year old purchased a $120,000, 20-year endowment policy with premiums payable semiannually. Compute the amount the insured paid the insurance company in premiums during his lifetime. Refer to Table 12-1. (1 year = 12 months.)

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The Answer of An insured 27 year old purchased a $120,000, 20-year endowment policy with premiums payable semiannually. Compute the amount the insured paid the insurance company in premiums during his lifetime. Refer to Table 12-1. (1 year = 12 months.)

An Insured 27 Year Old Purchased a $120,000, 20-Year Endowment