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Math

Answered

Your eldest brother applied for a term life insurance. He decided to avail of Insurance M's flexible
insurance product. His contribution per year is P40,000 that earns 12% compounded monthly for 20 years.
How much will be paid out to him after 20 years by Insurance M?

Paki sagot po pls

Sagot :

GONZALESJOWEL979IN GONZALESJOWEL979IN

Answer:

96,000 PESOS

Step-by-step explanation:

PRINCIPAL = 40,000 PESOS

RATE = 12% OR 0.12%

TIME = 20 YEARS

40,000 PESOS × 0.12% = 4,800 PESOS

4,800 PESOS × 20 YEARS = 96,000 PESOS

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