1. Suppose that you are beginning an investment plan. You have decided that you want to retire in 30 years with $2,500,000 in your bank account at that time. How much would you need to invest at the end of each of the next 30 years if you could earn 6%?
a) $18,973.37 b) $22,045.16 c) $31,622.28 d) $8,827.43
2. Whole Life insurance provides
a) A guaranteed rate of cash value accumulation
b) A fixed face amount (death benefit)
c) A fixed or known premium
d) all the choices stated in this question