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aniked [119]
3 years ago
5

If Jesse wants to buy a $75,000 10-year term life insurance policy, and the annual premium rate (per $1000 of face value) for hi

s age group is $2.34, how much is Jesse’s annual premium?
Mathematics
1 answer:
malfutka [58]3 years ago
7 0
Since it is given that it costs $2.34 for every $1000 face value, and it was given that he wanted to buy a $75000 plan, multiplying $2.34 by 75 (75000 includes 75 $1000 face value), it should yield us the annual premium. 

2.34 * 75 = $175.50

We don't need to multiply it by 10 years as only the annual premium is being solved for.
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