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omeli [17]
2 years ago
12

The probability that a 38-year-old white male will live another year is .99813. What premium would an insurance company charge t

o break even on a one-year $1 million term life insurance policy
Mathematics
1 answer:
alukav5142 [94]2 years ago
4 0

Answer:

The insurance company should charge $1,873.5.

Step-by-step explanation:

Expected earnings:

1 - 0.99813 = 0.00187 probability of the company losing $1 million(if the client dies).

0.99813 probability of the company earning x(price of the insurance).

What premium would an insurance company charge to break even on a one-year $1 million term life insurance policy?

Break even means that the earnings are 0, so:

0.99813x - 0.00187(1000000) = 0

0.99813x = 0.00187(1000000)

x = \frac{0.00187(1000000)}{0.99813}

x = 1873.5

The insurance company should charge $1,873.5.

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3 years ago
The ages of four sisters are consecutive even integers. Two times the age of the youngest sister exceeds the oldest sister's age
sasho [114]

Alright, lets get started.

The ages of all four sisters will be = x, x+2, x+4, x+6

As per given in question, two times of youngest sister age exceeds the oldest sister age by 30 means

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So this is the age of youngest sister.

So, age of oldest sister will be x + 6 = 36 + 6 = 42

Hene the age of oldest sister is 42 years.   :  Answer

Hope it will help :)


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