An insurance company has written 100 policies for $75,000, 500 policies for $55,000, and 1000 policies for $15,000 for people of age 20. If experience shows that the probability that a person will die at age 20 is 0.0012, how much can the company expect to pay out during the year the policies were written? The company can expect to pay out $ (Type an integer or a decimal.) over the year after the policies were written.

An insurance company has written 100 policies for $75,000, 500 policies for $55,000, and 1000 policies for $15,000 for people of age 20. If experience shows that the probability that a person will die at age 20 is 0.0012, how much can the company expect to pay out during the year the policies were written? The company can expect to pay out $ (Type an integer or a decimal.) over the year after the policies were written.

Name: An insurance company has written 100 policies for $75,000, 500 polici
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Description: An insurance company has written 100 policies for $75,000, 500 policies for $55,000, and 1000 policies for $15,000 for people of age 20. Ifo experience shows that the probability that a person will die at age 20 is 0.0012, how much can the company e

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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