What is the annual premium for $75,000, 10 year life insurance policy for a 40 year old male (Put answer to two decimal places)?
1 answer:
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Answer:
50 dollars per month
Step-by-step explanation:
Given
Required
Determine the rate of savings
Suppose in a month, she saves x amount.
In 2 months, she would save 2x
When 2x is added to the initial savings, it gives the total amount saved.
So, we have:
Collect Like Terms
Divide both sides by 2
<em>Hence, she saves $50 dollars monthly</em>
Answer:
P ( 1.2 < X < 2.1 ) = 0.3
Step-by-step explanation:
Given:
Uniform distribution over interval (0,3) can be modeled by a probability density function f(x)
f(x) = 1 / (b - a)
Where a < x < b is the domain at which function is defined:
f(x) = 1 / (3) = 1 / 3
Where, X - U ( u , δ )
u = ( a + b ) / 2 = (0 +3) / 2 = 1.5
δ = ( b - a ) / sqrt (12) = (3 - 0) / sqrt (12) = 0.866
Hence,
X - U ( 1.5 , 0.866 )
There-fore calculating P ( 1.2 < X < 2.1 ):
Where, a = 1.2 and b = 2.1
P ( 1.2 < X < 2.1 ) = x / 3 |
P ( 1.2 < X < 2.1 ) = 2.1 /3 - 1.2 / 3 = 0.3
Answer: P ( 1.2 < X < 2.1 ) = 0.3