2. Your dad applied for a term life insurance (provides the insured person with a coverage for a specified period of time of one, five or more years), He got a flexible policy (allows the insured...

Extracted text: 2. Your dad applied for a term life insurance (provides the insured person with a coverage for a specified period of time of one, five or more years), He got a flexible policy (allows the insured person to change certain components of the insurance plan) because some payment options include a policy payout (insurance proceeds) as soon period achieved or upon contingency (death or accident). Some companies offer insurance products that can be availed only upon death. Because of this better option, your dad decided to avail of insurance A's flagship insurance product. Your dad's contribution per year is P20,000 that earns 6% compounded monthly for 20 years. How much will be paid out to your dad after 20 years by insurance A? as the target