Darlene wants to buy a $200,000 term life insurance policy. She is 34 yearsold. Using the premium table, what is her annual premium for a 10-yearpolicy?a $100b. $108C$1.202d. $1.290 Annual Life Insurance Premium(per$1000 of face value)5-Yar TormMaleE0-YOar TermMaleFemale3.663.763.673.964.103.066.135.306.366.456.53Femaie5.725.795.85S.936.016.093.984.064.193031223334354304424.544.22S100

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Answered: Darlene wants to buy a $200,000 term…

Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10-year policy? a $100 b. $108 C$1.202 d. $1.290

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Darlene wants to buy a $200,000 term life insurance policy. She is 34 years old. Using the premium table, what is her annual premium for a 10-year policy? a $100 b. $108 C$1.202 d. $1.290

Annual Life Insurance Premium(per$1000 of face value)
5-Yar Torm
Male
E0-YOar Term
Male
Female
3.66
3.76
3.67
3.96
4.10
3.06
6.13
5.30
6.36
6.45
6.53
Femaie
5.72
5.79
5.85
S.93
6.01
6.09
3.98
4.06
4.19
30
31
22
33
34
35
430
442
4.54
4.22
S100

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TABLE 20.1 Life insurance rates for males (for females, subtract 3 years from the age. Non-binary individuals currently need to apply as male or female.)² Five-year term Straight life Twenty- payment life Twenty-year endowment 1.85 5.90 13.85 1.85 6.13 14.35 1.85 6.35 14.92 1.85 6.60 15.54 1.85 6.85 16.05 1.85 7.13 17.55 1.85 7.43 17.66 1.86 7.75 18.33 1.86 8.08 19.12 1.87 8.46 20.00 1.87 8.85 20.90 1.87 9.27 21.88 1.88 9.71 22.89 1.95 10.20 23.98 2.08 10.71 25.13 2.23 11.26 26.35 2.44 11.84 27.64 2.67 12.46 28.97 2.95 13.12 30.38 3.24 13.81 31.84 3.52 33.36 3.79 34.94 14.54 15.30 16.11 16.96 4.04 36.59 4.26 38.29 4.50 17.86 40.09 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 Age 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 8.28 8.61 8.91 9.23 9.56 9.91 10.29 10.70 11.12 11.58 12.05 12.57 13.10 13.67 14.28 14.92 15.60 16.30 17.04 17.81 18.61…