Practice question
A buyer with eight qualifying paid years has PHP 2,000,000 in total payments counted under Section 3. Compute the statutory cash surrender value upon cancellation.
- PHP 1,300,000
- PHP 1,000,000
- PHP 1,100,000
- PHP 1,800,000
- PHP 2,000,000
Legal references
- RA6552, Sections3-7: https://lawphil.net/statutes/repacts/ra1972/ra_6552_1972.html
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