Question

The equation y=8.50x + 33 can be used to estimate the monthly premium y of a $250,000 term life insurance policy for a male smoker who is more than 40 year old. In this equation, x is the age of a man above 40. For example, a 60 year old male smoker, x =20. Estimate the monthly insurance premium for a 48-year old male smoker. (Show all work)

Answer 1

Answer:

$101

Step-by-step explanation:

Given

$y = 8.50x + 33$

$x \to$ age above 40

Required

Insurance for 48 years old

First, we solve for x

$x = 48 - 40$

$x = 8$

So, we have:

$y = 8.50x + 33$

$y = 8.50 * 8 + 33$

$y = 68 + 33$

$y = 101$