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Jenny, a 31- year-old female, bought a $135,000, 20-year life insurance policy through her employer. Jenny is paid semi-monthly. How much is deducted from each of her paychecks for life insurance? A) $18.
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Jenny, a 31- year-old female, bought a $135,000, 20-year life insurance policy through her employer. Jenny is paid semi-monthly. How much is deducted from each of her paychecks for life insurance?

A) $18.28
B) $21.49
C) $32.85
D) $44.60

Jenny, a 31- year-old female, bought a $135,000, 20-year life insurance policy through-example-1
User Mike Barry
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2 Answers

2 votes

Answer:

c

Explanation:

i just took it

User Andras K
by
7.1k points
5 votes
C.$32.85
Jenny pays 5.84 per 1000 of coverage. 135000/1000 = 135.
135*5.84 = 788.40 total annual premium.
semi-monthly is 24 payments for a year (12*2).
788.40/24 = 32.85
User Srinivasu
by
6.6k points
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