Question

HELP PLEASE

Daniel, a 37-year-old male, bought a $160,000, 10-year life insurance policy. What is Daniel’s annual premium? Use the table. (table in attachment) $611.20 $728.00 $1268.80 $1652.80

Kara, a 25-year-old female, bought a $50,000, 10-year life insurance policy through her employer. Kara is paid semimonthly. How much is deducted from each of her paychecks for life insurance? Use the table below. $4.81 $5.21 $6.25 $6.77

Answer 1

the answer to you question is B for number 1 and for 2 it is C. Hope this helps

Answer 2

1) Option B- $728

2) Kara's annual premium is $62.5.

Explanation:

1) Given : Daniel, a 37-year-old male, bought a $160,000, 10-year life insurance policy.

To find : What is Daniel's annual premium?

Solution :

In the table given,

Annual premium is per $1000 of coverage.

Daniel's life insurance policy buy is $160,000

Annual premium per $1000 coverage Daniel buy at $160

37 year old male 10 year cost is $4.55

(marked in the attached table below)

Daniel's annual premium is
`4.55* 160`

`=(455)/(100)* 160`

`=728`

Daniel's annual premium is $728

Therefore, Option B is correct.

2) Given : Kara, a 25-year-old female, bought a $50,000, 10-year life insurance policy through her employer. Kara is paid semimonthly.

To find : How much is deducted from each of her paychecks for life insurance?

Solution :

In the table given,

Annual premium is per $1000 of coverage.

Kara's life insurance policy buy is $50,000

Annual premium per $1000 coverage Kara buy at $50

25 year old female 10 year cost is $2.50

(marked in the attached table below)

Kara is paid semimonthly

So, cost is
`(2.50)/(2)=1.25`

Kara's annual premium is
`1.25* 50`

`=(1.25)/(100)* 50`

`=62.5`

Kara's annual premium is $62.5.