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17 July, 10:08

Which item is more economical?

A. a $100,000 life insurance policy at $0.55 per $1000 per month

B. a $100,000 life insurance policy at $170 per quarter.

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  1. 17 July, 13:40
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    The correct answer is: a $100,000 life insurance policy at $0.55 per $1000 per month (more economical)

    Explanation:

    (1) a $100,000 life insurance policy at $0.55 per $1000 per month

    It means:

    $0.55*100*12 = $660 [There are 100 thousands in $100000 and there are 12 months in the year]

    (2) a $100,000 life insurance policy at $170 per quarter.

    It means:

    $170*4 = $680 [There are 4 quarters in a year]

    As $680 > $660 therefore Option (A) is the economical option.
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