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Irina-Kira [14]
3 years ago
5

Arthur bought a $90,000 life insurance policy at $10.98 for a 20-year term. What will he pay over 20 years for the premium?

History
2 answers:
Vaselesa [24]3 years ago
7 0

$19,764.00.

I got this question incorrect the first time and it showed me this was correct

zimovet [89]3 years ago
3 0

This is supposing the $10.98 is a fixed rate.  Premiums for insurance coverage are typically paid monthly, quarterly or yearly. 

Take the $10.98 multiply it by 52 and you'll get $570.96 
Take that 570.96 and multiply that by 20 
this gives you $11,419.20 
and this is the amount Arthur will pay over 20 years for the premium.

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