Question

Carla Sanborn, who was born on July 12, 1936, purchased $30,000 worth of ordinary whole-life insurance on October 25, 1977. Find: a. Her age for insurance purposes: a0 years b. Her annual premium: $ a1

Answer 1

Her age is 41 years and her annual premium is $731 or $732

Explanation:

From the question given, we recall the following:

Carla Sanborn was born on july 12, 1936.

On October 25, 1977, She bought $30,000 worth of ordinary life insurance on

The next step is to find her age for insurance purpose and secondly her annual premium.

The age for her insurance purposes will be calculated by the nearest birthday year.

so,

July 12 ,1936 - October 25, 1977 which is 41 years of age

For Her annual premium we divide what she purchased with her age, which would result in 30,000$/41 = $ 731.70 approximately be 732$

Answer 2

a 41 years

b 732 $

Explanation:

Her age for insurance purposes is calculated by the nearest birthday year.

July 12 ,1936 to October 25, 1977

41 years.

Her annual premium would be 30,000$ /41 = $ 731.70 or almost 732$ or