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4 years ago

10

Sue purchased a $30,000 life insurance policy at the price of $24 for each $1000 of coverage. If she pays the premium in 12 mont

hly installments, how much is each installment?

1 answer:

Inessa [10]4 years ago

3 0

Cost of life insurance is $30000 at a price of for each $24 for each $1000 of coverage.

Cost = $\frac{24}{1000}\times30000$

= $720

Premium is paid each month then it becomes $\frac{720}{12}=60$

=$60

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