Question

Matt Miller, age 28, takes out $50,000 of straight-life insurance. His annual premium is $418.20. Using the tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of his policy at the end of 20 years.

Answer 1

the value of his cash policy at the end of 20 years=418.20*20                        
=8364

Answer 2

hi thank you for asking the question .This question is a brain teaser and check for your math and stat skills 
the answer if explained simply can be put as follows
if the annual premium of Matt is 418.20 
and we want to find the cash value of Matt after 20 years then simply we can multiply the annual value to the total number of years
so the solution is 418.20*20=8364$
this is the final amount Matt would have after 20 years
Hope this answer helps you