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dsp73
3 years ago
15

Determine the term life insurance amount per thousand on a 22-year-old female for a 5-year policy given that the face value of t

he policy is $600,000 and the annual premium is $1332. a. $2.07 c. $2.15 b. $2.30 d. $2.22
Mathematics
2 answers:
irakobra [83]3 years ago
7 0
The answer is D, 2.22 for sure, you're welcome
VLD [36.1K]3 years ago
4 0

We need to determine the term life insurance amount per thousand on a 22-year-old female for a 5-year policy given that the face value of the policy is $600,000 and the annual premium is $1332.

Since we are supposed to find the term life insurance amount per thousand, therefore, we will use the following formula:

\text{Term life insurance amount}=\frac{\text{Annual premium}}{\text{Face value of insurance}}*1000

Upon substituting the values of annual premium and face value of insurance, we get:

\text{Term life insurance amount}=\frac{\text{1332}}{\text{600000}}*1000\\
\text{Term life insurance amount}=\$2.22

Therefore, the required life insurance amount is $2.22.

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Test Hypothesis

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t(s)  =  (  μ  -  μ₀ ) /σ/√n

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