An insurance company charges a 35-year old non-smoker an annual premium of $118 for a $100,000 term life insurance policy. The premiums for 45-year olds and 55-year old no smokers are $218 and $563, respectively. Write a quadratic model for the premium p as a function of age a.

Question

Hugh Pruitt

Mathematics

23 February, 23:46

An insurance company charges a 35-year old non-smoker an annual premium of $118 for a $100,000 term life insurance policy. The premiums for 45-year olds and 55-year old no smokers are $218 and $563, respectively. Write a quadratic model for the premium p as a function of age a.

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Abril Hart · Answer 1

P=ma^2+ba+c, so you have 118=m35^2+35b+c 218=m45^2+45b+c 563=m55^2+55b+c so solving I get m=49/40 b=-88 c=13579/8 so its p = (49/40) a^2-88a + (13579/8)