Question

freddy has a life insurance policy with a $2 million benefit. if this money was put into an account with a 3% interest rate, how much income can his beneficiaries expect in case Freddy dies?

Answer 1

Answer:

C. 60,000

Explanation:

3% interest on $2,000,000

0.03 x 2,000,000 = 60,000

2,000,000 + 60,000 = 2,060,000