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Lynna [10]
3 years ago
10

How much less would a 23-year-old female pay for a $25,000 policy of 20 year life insurance (@ $2.90 per $1000) than straight li

fe (@ $15.78 per $1000)?
Mathematics
2 answers:
mojhsa [17]3 years ago
5 0

<u>Answer</u>:

The female would pay  $322.00 less for a policy of $25,000

<u>Step-by-step explanation:</u>

Since we have given that

Amount for policy = $25000

If she opt for 20 year life insurance at $2.90 per $1000.

so, her amount of premium becomes

25000\times \frac{2.9}{1000}

=$72.50

If she opt for straight life insurance at $15.78 per $1000,

Then, her amount of premium becomes

25000 \times \frac{15.78}{1000}

= $394.50

Difference between them is given by

$394.50-$72.5 = $322.00

Andreas93 [3]3 years ago
5 0

Answer:

<em>The answer to this question is $322.</em>

Step-by-step explanation:

<em>From the question, we recall the following</em>

<em>23-year-old female pay for a $25,000 policy less policy of 20 year life insurance.</em>

<em>The first step is to calculate the policy of 20 year life insurance</em>

<em>The number of thousands on 2500 is, 25000/1000=25 </em>

<em>25*2.9  = 72.5</em>

<em>The next step is to get the straight life</em>

<em>Thus,</em>

<em>25×15.78  = 394.5</em>

<em>Now,</em>

<em>How much less  would the 23 year old pay</em>

<em>394.5−72.5  = $322</em>

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