An insurance company sells a $19,000, eight-year term life insurance policy to an individual for $680. Find the expected return for the company if the probability the individual will live for the next eight years is 0.98. (Round your answer to 2 decimal places.)
An insurance company sells a $19,000, eight-year term life insurance policy to an individual for $680. Find the expected return for the company if the probability the individual will live for the next eight years is 0.98. (Round your answer to 2 decimal places.)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 66E: Determine if the statement is true or false. If the statement is false, then correct it and make it...
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An insurance company sells a $19,000, eight-year term life insurance policy to an individual for $680. Find the expected return for the company if the probability the individual will live for the next eight years is 0.98. (Round your answer to 2 decimal places.)
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