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2 years ago

Nikos, a 39-year old male, bought a 300,000, 20-year life insurance policy.

Mathematics

1 answer:

netineya [11]2 years ago

8 0

The total amount he will pay for 20 years of coverage is $61,980. Option D

<h3>How to determine the total amount</h3>

To find the total amount, we use the expression

First, we multiply the value per $1,000.00 by the number of thousands of face value coverage. This gives an estimate of the annual premium for life insurance policy.

Nikos's premium per year = $\frac{300000}{1000} * 10. 33$

Niko's premium per year = $300 * 10. 33$

Niko's premium per year = $3, 099

To find the total amount, we need to multiply by the number of years

= $3,099 x 20

= $61,980

Thus, the total amount he will pay for 20 years of coverage is $61,980. Option D

Learn more about insurance premium here:

brainly.com/question/1191977

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