Carla Arslanian is 55 years old. She wants to purchase a $100,000, 10 year term life insurance policy. The premium per $1000 is

Question

yanalaym [24]

2 years ago

13

Carla Arslanian is 55 years old. She wants to purchase a $100,000, 10 year term life insurance policy. The premium per $1000 is

$8.95. What is her annual premium?

Mathematics

2 answers:

anyanavicka [17] · Answer 1 · 2022-09-12T16:40:35+03:00

anyanavicka [17]2 years ago

5 0

Answer:

$863

Step-by-step explanation:

good luck have a nice day

castortr0y [4] · Answer 2 · 2022-09-12T15:28:03+03:00

Answer:

$863

Step-by-step explanation:

Given: Carla Arslanian is 55 years old. She wants to purchase a $100,000, 10-year term life insurance policy.

To find: What is her annual premium?

Solution: Insurance companies use mathematical calculation and statistics to calculate the number of insurance premiums they charge their clients.

Annual premium = face value x rate $100

Annual premium (for building) = $100,000 ÷ $1000 x 10 = $1000.

The sum of the annual premium is $863.