Mathematics

Lucille

20 September, 07:56

Suppose that the probability that a person will die in the next 20 years is

18.1452%. If this person has a life insurance policy that will pay out $25,000

to the beneficiaries of the policy if the person dies in the next 20 years, what

is the premium of the policy? Assume that the administrative costs of the

policy amount to $45.

A. 4523.89

B. 4581.30

C. 25,000

D. 4536.30

+5

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