Earl has a life insurance policy that will pay his family $59,000 per year if he
dies. If interest rates are at 3.3% when the insurance company has to pay,
what is the amount of the lump sum that the insurance company must put
into a bank account?
O
O
A. $17,878,787.88
B. $178,787.88
O
c. $178,787,878.80
O
D. $1,787,878.79