How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
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TABLE 19-2
Life Insurance-Premium
Factors
Premium
Percent of
Paid
Annual
Premium
Semiannually
Quarterly
Monthly
52%
26%
9%
TABLE 19-1 Annual Life Insurance Premiums (per $1,000 of Face Value)
Term Insurance
Permanent Insurance
Whole
Life
5-Year
10-Year
20-Payment
20-Year
Term
Term
Life
Endowment
Age
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
$ 2.32
2.38
18
S1.90
$4.33
$4.01
$13.22
$11.17
$23.14
$19.21
$33.22
$29.12
19
1.96
4.42
4.12
13.60
11.68
24.42
20.92
33.68
30.04
20
2.43
2.07
4.49
4.20
14.12
12.09
25.10
21.50
34.42
31.28
22.11
22.89
21
2.49
2.15
4.57
4.29
14.53
12.53
25.83
34.90
31.79
22
2.55
2.22
4.64
4.36
14.97
12.96
26.42
35.27
32.40
23
2.62
2.30
4.70
4.42
15.39
13.41
27.01
23.47
35.70
32.93
24
2.69
2.37
4.79
4.47
15.90
13.92
27.74
24.26
36.49
33.61
25
2.77
2.45
4.85
4.51
16.38
14.38
28.40
25.04
37.02
34.87
26
2.84
2.51
4.92
4.60
16.91
14.77
29.11
25.96
37.67
35.30
2.58
2.64
27
2.90
5.11
4.69
17.27
15.23
29.97
26.83
38.23
35.96
28
2.98
5.18
4.77
17.76
15.66
30.68
27.54
38.96
36.44
29
3.07
2.70
5.23
4.84
18.12
16.18
31.52
28.09
39.42
37.21
30
3.14
2.78
5.30
4.93
18.54
16.71
32.15
28.73
40.19
37.80
35
22.52
3.43
4.23
2.92
3.90
6.42
7.14
5.35
6.24
24.19
37.10
42.27
33.12
36.29
43.67
48.20
51.11
39.19
40
27.21
25.40
42.25
45
6.12
5.18
8.81
7.40
33.02
37.94
29.16
48.73
39.08
46.04
50
9.72
8.73
14.19
9.11
33.57
56.31
44.16
58.49
49.20
55
16.25
12.82
22.03
13.17
45.83
37.02
61.09
49.40
71.28
53.16
60
24.10
19.43
37.70
24.82
53.98
42.24
70.43
52.55
79.15
58.08
Transcribed Image Text:TABLE 19-2 Life Insurance-Premium Factors Premium Percent of Paid Annual Premium Semiannually Quarterly Monthly 52% 26% 9% TABLE 19-1 Annual Life Insurance Premiums (per $1,000 of Face Value) Term Insurance Permanent Insurance Whole Life 5-Year 10-Year 20-Payment 20-Year Term Term Life Endowment Age Male Female Male Female Male Female Male Female Male Female $ 2.32 2.38 18 S1.90 $4.33 $4.01 $13.22 $11.17 $23.14 $19.21 $33.22 $29.12 19 1.96 4.42 4.12 13.60 11.68 24.42 20.92 33.68 30.04 20 2.43 2.07 4.49 4.20 14.12 12.09 25.10 21.50 34.42 31.28 22.11 22.89 21 2.49 2.15 4.57 4.29 14.53 12.53 25.83 34.90 31.79 22 2.55 2.22 4.64 4.36 14.97 12.96 26.42 35.27 32.40 23 2.62 2.30 4.70 4.42 15.39 13.41 27.01 23.47 35.70 32.93 24 2.69 2.37 4.79 4.47 15.90 13.92 27.74 24.26 36.49 33.61 25 2.77 2.45 4.85 4.51 16.38 14.38 28.40 25.04 37.02 34.87 26 2.84 2.51 4.92 4.60 16.91 14.77 29.11 25.96 37.67 35.30 2.58 2.64 27 2.90 5.11 4.69 17.27 15.23 29.97 26.83 38.23 35.96 28 2.98 5.18 4.77 17.76 15.66 30.68 27.54 38.96 36.44 29 3.07 2.70 5.23 4.84 18.12 16.18 31.52 28.09 39.42 37.21 30 3.14 2.78 5.30 4.93 18.54 16.71 32.15 28.73 40.19 37.80 35 22.52 3.43 4.23 2.92 3.90 6.42 7.14 5.35 6.24 24.19 37.10 42.27 33.12 36.29 43.67 48.20 51.11 39.19 40 27.21 25.40 42.25 45 6.12 5.18 8.81 7.40 33.02 37.94 29.16 48.73 39.08 46.04 50 9.72 8.73 14.19 9.11 33.57 56.31 44.16 58.49 49.20 55 16.25 12.82 22.03 13.17 45.83 37.02 61.09 49.40 71.28 53.16 60 24.10 19.43 37.70 24.82 53.98 42.24 70.43 52.55 79.15 58.08
How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent.
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Transcribed Image Text:How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent. Need Help? Read It Watch It Master It
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