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4 December, 19:34

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

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Answers (1)
  1. 4 December, 19:54
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    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) ]
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