Answer: y = 7.5
Step-by-step explanation:
Suppose that y varies directly with x
That is, y∝x
Convert y∝x to a full equation by introducing a constant k to the right hand side.
Therefore, y = kx
Given that y = 10 and x = 20
Substitute y and x in the equation above. We have;
10 = k(20)
10 = 20k
20k = 10
k = 10/20
k = 0.5
Since k = 0.5, the equation y = kx becomes y = 0.5x
Now, to find y if x = 15, substitute x in equation y = 0.5x
Therefore, y = 0.5(15)
y = 7.5
From the given table, the annual premium rate as a percentage of value insured a person at age 35 has to pay is 0.14%.
Reasons:
The data in the table are presented as follows;
From the above table, we have that the amount a 35 year old without health issues will pay per $1,000 is $1.40
Therefore, the amount to be paid for $115,000 is 115 × $1.4 = $161
The amount Bernard pays = 15% more = 1.15 × $161 = $185.15
Therefore;
The amount more Bernard has to pay = $185.15 - $161 = $24.15 ≈ <u>$24</u>
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