Question

Use the table to find the yearly premiums in each of the following cases.

Answer 1

Annual premium = 30 * 28.23 = $846.90

Answer 2

Answer:

The annual premium paid by George Anderson is $846.90.

Step-by-step explanation:

It is given that George Anderson takes out $30,000 of a twenty-payment life insurance.

The age of George Anderson is 36.

In the given table the first column represents the age and 4th column represents the twenty-payment life insurance.

From the given table it is noticed that the annual premium for males, whose age is 36, is 28.23 per $1000.

$1000=28.23\text{ Annual premium}$

Multiply both sides by 30.

$1000\times 30=28.23\times 30\text{ Annual premium}$

$30,000=846.9\text{ Annual premium}$

Therefore the annual premium paid by George Anderson is $846.90.