21) An insurance company plans to sell a $250,000 one-year term life insurance policy to a 60-year-old female. Of 1.5 million females having similar risk factors, the company estimates that 7500 of them will die in the next year. What Is the premium that the insurance company should charge if it would like to make a profit of $175 on each policy? A) $1200 per policy B) $1250 per policy C) $140 per policy D) $1425 per policy E) $1390 per policy

21) An insurance company plans to sell a $250,000 one-year term life insurance policy to a 60-year-old female. Of 1.5 million females having similar risk factors, the company estimates that 7500 of them will die in the next year. What Is the premium that the insurance company should charge if it would like to make a profit of $175 on each policy? A) $1200 per policy B) $1250 per policy C) $140 per policy D) $1425 per policy E) $1390 per policy

Intermediate Algebra

19th Edition

ISBN:9780998625720

Author:Lynn Marecek

Publisher:Lynn Marecek

Chapter12: Sequences, Series And Binomial Theorem

Section12.3: Geometric Sequences And Series

Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...

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