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Saunders purchased a home from Barnes and agreed to assume an existing conventional loan. The lender agreed to the assumption and issued a substitution of liability. Under these circumstances:

A: Saunders is primarily responsible for the loan and Barnes remains liable as a surety; B: Nothing is being accomplished if the loan is secured by a purchase-money deed of trust; C: Barnes is relieved from further duties under the obligation; D: Barnes remains primarily responsible for the loan and Saunders is secondarily liable.

David purchased a $100,000 participating whole life policy. The annual premium is $2,280. Projected dividends for the first 20 years are $15,624. The cash value after 20 years will be $35,260

If the premiums were invested at 5 percent interest for 20 years, the premiums would grow to $79,156. If the dividends were accumulated at 5 percent interest for 20 years, they would grow to be $24,400. The amount to which $1 deposited annually will accumulate in 20 years at 5 percent interest is $34.719. Based on this information, what is the net payment cost per thousand per year of David's policy over the 20-year period? A) $5.62 B) $13.75 C) $15.77 D) $27.38