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12 November, 00:00

How much less would a 23 year old female pay for a $25,000 policy of 20 year life insurance (@ $2.90 per $1000) than straight life (@ $15.78 per $1000) ?

A. $662.30

B. $644.00

C. $322.00

D. $585.32

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Answers (2)
  1. 12 November, 00:14
    0
    C

    Step-by-step explanation:

    2.90x25 = 72.50 15.78x25 = 394.50 subtract 72.50 from 394.50 which equals C
  2. 12 November, 00:17
    0
    Answer: She would pay $322 less. (option C)

    Step-by-step explanation:

    Hi, to solve this problem we have to analyze the information given:

    Number of thousands in $25,000 = 25 ($25,000 / 1000 = 25) Life insurance policy : ($2.90 per $1000) = $2.90 x 25 = $72.5 Straight life policy : ($15.78 per $1000) = $15.78 x25 = $394.5

    Now, that we have the total costs we have to subtract the cost of the first policy ($72.5) to the second policy cost ($394.5)

    Mathematically speaking:

    $394.5 - $72.5 = $322

    She would pay $322 less. (option C)
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