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
2 answers:
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:
Upon substituting the values of annual premium and face value of insurance, we get:
Therefore, the required life insurance amount is $2.22.
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Given:
The price of bananas can be determined by the equation P=0.25n, where P is the price and n is the number of bananas.
To find:
The constant of proportionality
Solution:
We have,
...(i)
where P is the price and n is the number of bananas.
Price P is directly proportional to the number of bananas. So,
...(ii)
Where, k is the constant of proportionality.
On comparing (i) and (ii), we get
Therefore, the constant of proportionality is 0.25.