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As a fringe benefit, Dennis Taylor receives a $57,000 life insurance policy from his employer. The probability that Dennis will live another year is 0.9845. If he purchases the same coverage for himself, what is the minimum amount that he can expect to pay for the policy? (Enter your answer to the nearest cent.) Need Help? Read It

As a fringe benefit, Dennis Taylor receives a $57,000 life insurance policy from his employer. The probability that Dennis will live another year is 0.9845. If he purchases the same coverage for himself, what is the minimum amount that he can expect to pay for the policy? (Enter your answer to the nearest cent.) Need Help? Read It

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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18. [-/1 Points] DETAILS TANFIN12 8.2.018. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER As a fringe benefit, Dennis Taylor receives a $57,000 life insurance policy from his employer. The probability that Dennis will live another year is 0.9845. If he purchases the same coverage for himself, what is the minimum amount that he can expect to pay for the policy? (Enter your answer to the nearest cent.) $ Need Help? Read It
Transcribed Image Text:18. [-/1 Points] DETAILS TANFIN12 8.2.018. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER As a fringe benefit, Dennis Taylor receives a $57,000 life insurance policy from his employer. The probability that Dennis will live another year is 0.9845. If he purchases the same coverage for himself, what is the minimum amount that he can expect to pay for the policy? (Enter your answer to the nearest cent.) $ Need Help? Read It
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