Question

Wendy, a 32 year old female, bought a $130,000, 10-year life insurance policy. what is wendys annual premium? Use the table

Answer 1

Answer:

Option A- $422.5

Step-by-step explanation:

Given : Wendy, a 32 year old female, bought a $130,000, 10-year life insurance policy.

To find : What is Wendy annual premium?

Solution :

In the table given,

Annual premium is per $1000 of coverage.

Wendy life insurance policy buy is $130,000

Annual premium per $1000 coverage Wendy buy at $130

From the table, (marked in the attached table below)

32 year old female 10 year cost is $3.25

Wendy's annual premium is $3.25\times 130$

$=\frac{325}{100}\times 130$

$=422.5$

Wendy's annual premium is $422.5

Therefore, Option A is correct.

Answer 2

It would be A, because her annual premium rate is $3.25 for every $1,000. So 3.25x130=$422.50