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Tom Hornet purchases $7,000 of ten-year term life. He is 31 years old What is his annual premium? What is his quarterly premium? The difference between the two payment options? …

Tom Hornet purchases $7,000 of ten-year term life. He is 31 years old What is his annual premium? What is his quarterly premium? The difference between the two payment options? …
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4 votes
Tom Hornet purchases $7,000 of ten-year term life. He is 31 years old

What is his annual premium?

What is his quarterly premium?


The difference between the two payment options?

(Remember to compare annual premium to annual premium!) :

User Andrej Sramko
by
8.0k points

2 Answers

2 votes

Answer:I can confirm 35.49, 9.23, 1.43

Explanation:

User Colin Sygiel
by
8.5k points
3 votes
The annual premium is 5.07 x 7 = 35.49
The quarterly premium is 35.49 x .26 = 9.23
And the difference between the two payment options is 1.43
(Use the table in the question, it has all the information you need).
User William Lepinski
by
7.0k points
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