Mathematics

Alannah Robertson

31 July, 13:12

Katherine has a life insurance policy that will pay her family $35,000 per year if she dies. Katherine's insurance company expects that it would have to put $1,400,000 into a bank account so that it could make the payments. What does Katherine's insurance company expect the interest rate to be?

A) 0.4%

B) 1.6%

C) 2%

D) 2.5%

+2

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