A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company charges $300 per year for a life-insurance policy that pays a $100,000 death benefit. What is the expected value for the person buying the insurance? Round your answer to the nearest dollar. Expected Value: $ for the year

A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance company charges $300 per year for a life-insurance policy that pays a $100,000 death benefit. What is the expected value for the person buying the insurance? Round your answer to the nearest dollar. Expected Value: $ for the year

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Description: A 40-year-old man in the U.S. has a 0.244% risk of dying during the next year . An insurance companycharges $300 per year for a life-insurance policy that pays a $100,000 death benefit. What is the expectedvalue for the person buying the insurance?

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter10: Sequences, Series, And Probability

Section: Chapter Questions

Problem 35T

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