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Taylor Breen took out a $100,000, 5-year term policy at age 48. The premium per $1,000 was $4.70. He will be 53 years old next year when the premium per $1,000 will be $6.40. What is the amount of the
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Taylor Breen took out a $100,000, 5-year term policy at age 48. The premium per $1,000 was $4.70. He will be 53 years old next year when the premium per $1,000 will be $6.40. What is the amount of the increase?

Select one:
a. $133
b. $136
c. $173
d. $170

User Crouching Kitten
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1 Answer

2 votes
the premium per $1000 was $4.70
so, premium per $100,000 was $470

next year premium per $1000 will be $6.40
so, premium per $100,000 will be $640

so, amount of increase is $640 - $470 = $170 .........[Answer (C)]
User Ravron
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