Can someone please answer this for me
1 answer:
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Answer:
The insurance company should charge $1,873.5.
Step-by-step explanation:
Expected earnings:
1 - 0.99813 = 0.00187 probability of the company losing $1 million(if the client dies).
0.99813 probability of the company earning x(price of the insurance).
What premium would an insurance company charge to break even on a one-year $1 million term life insurance policy?
Break even means that the earnings are 0, so:
The insurance company should charge $1,873.5.
PART ONE:
To put this information into a fraction you write part over whole:
To change this into a decimal you have to plug in 8÷40 into your calculator:
0.2
PART TWO:
After you subtract 8 from 40, there are 32 fifth graders left.
The fraction will look like this:
To change this into a decimal you have to plug in 32÷40 into your calculator:
0.8
I hope this was helpful!
To put this information into a fraction you write part over whole:
To change this into a decimal you have to plug in 8÷40 into your calculator:
0.2
PART TWO:
After you subtract 8 from 40, there are 32 fifth graders left.
The fraction will look like this:
To change this into a decimal you have to plug in 32÷40 into your calculator:
0.8
I hope this was helpful!