Question

Asked Nov 3, 2019

Provide an appropriate response with details.

A 28 year old man pays $206 for a one year life insurance policy with coverage of $60,000. If the probability that he will live through the year is 0.9992, what is the expected value for the insurance policy?

Step 1

From the given information, the probability of he will live through the year is 0.9992. And a 28 years old man pays $206 for a one-year life insu...

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