Mortalfinger99
contestada

How much less would a 23 year old female pay for a $25,000 policy of 20 year life insurance (@ $2.90 per $1000) than straight life (@ $15.78 per $1000)?

$662.30

$644.00

$322.00

$585.32

Respuesta :

Aliwohaish12
Hi there
number of thousands on 25000
25000/1000=25
life insurance
25×2.9
=72.5
straight life
25×15.78
=394.5
How much less
394.5−72.5
=322...answer

Hope it helps

Answer: Third Option is correct.

Step-by-step explanation:

Since we have given that

Amount for policy = $25000

If she opt for 20 year life insurance @ $2.90 per $1000.

so, her amount of premium becomes

[tex]25000\times \frac{2.9}{1000}\\\\=\$72.50[/tex]

If she opt for straight life insurance @ $15.78 per $1000,

Then, her amount of premium becomes

[tex]25000\times \frac{15.78}{1000}\\\\=\$394.50[/tex]

Difference between them is given by

[tex]\$394.50-\$72.5=\$322.00[/tex]

Hence, Third Option is correct.

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