How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
icon
Related questions
icon
Concept explainers
Topic Video
Question
100%
TABLE 19-2
Life Insurance-Premium
Factors
Premium
Percent of
Paid
Annual
Premium
Semiannually
Quarterly
Monthly
52%
26%
9%
TABLE 19-1 Annual Life Insurance Premiums (per $1,000 of Face Value)
Term Insurance
Permanent Insurance
Whole
Life
5-Year
10-Year
20-Payment
20-Year
Term
Term
Life
Endowment
Age
Male
Female
Male
Female
Male
Female
Male
Female
Male
Female
$ 2.32
2.38
18
S1.90
$4.33
$4.01
$13.22
$11.17
$23.14
$19.21
$33.22
$29.12
19
1.96
4.42
4.12
13.60
11.68
24.42
20.92
33.68
30.04
20
2.43
2.07
4.49
4.20
14.12
12.09
25.10
21.50
34.42
31.28
22.11
22.89
21
2.49
2.15
4.57
4.29
14.53
12.53
25.83
34.90
31.79
22
2.55
2.22
4.64
4.36
14.97
12.96
26.42
35.27
32.40
23
2.62
2.30
4.70
4.42
15.39
13.41
27.01
23.47
35.70
32.93
24
2.69
2.37
4.79
4.47
15.90
13.92
27.74
24.26
36.49
33.61
25
2.77
2.45
4.85
4.51
16.38
14.38
28.40
25.04
37.02
34.87
26
2.84
2.51
4.92
4.60
16.91
14.77
29.11
25.96
37.67
35.30
2.58
2.64
27
2.90
5.11
4.69
17.27
15.23
29.97
26.83
38.23
35.96
28
2.98
5.18
4.77
17.76
15.66
30.68
27.54
38.96
36.44
29
3.07
2.70
5.23
4.84
18.12
16.18
31.52
28.09
39.42
37.21
30
3.14
2.78
5.30
4.93
18.54
16.71
32.15
28.73
40.19
37.80
35
22.52
3.43
4.23
2.92
3.90
6.42
7.14
5.35
6.24
24.19
37.10
42.27
33.12
36.29
43.67
48.20
51.11
39.19
40
27.21
25.40
42.25
45
6.12
5.18
8.81
7.40
33.02
37.94
29.16
48.73
39.08
46.04
50
9.72
8.73
14.19
9.11
33.57
56.31
44.16
58.49
49.20
55
16.25
12.82
22.03
13.17
45.83
37.02
61.09
49.40
71.28
53.16
60
24.10
19.43
37.70
24.82
53.98
42.24
70.43
52.55
79.15
58.08
Transcribed Image Text:TABLE 19-2 Life Insurance-Premium Factors Premium Percent of Paid Annual Premium Semiannually Quarterly Monthly 52% 26% 9% TABLE 19-1 Annual Life Insurance Premiums (per $1,000 of Face Value) Term Insurance Permanent Insurance Whole Life 5-Year 10-Year 20-Payment 20-Year Term Term Life Endowment Age Male Female Male Female Male Female Male Female Male Female $ 2.32 2.38 18 S1.90 $4.33 $4.01 $13.22 $11.17 $23.14 $19.21 $33.22 $29.12 19 1.96 4.42 4.12 13.60 11.68 24.42 20.92 33.68 30.04 20 2.43 2.07 4.49 4.20 14.12 12.09 25.10 21.50 34.42 31.28 22.11 22.89 21 2.49 2.15 4.57 4.29 14.53 12.53 25.83 34.90 31.79 22 2.55 2.22 4.64 4.36 14.97 12.96 26.42 35.27 32.40 23 2.62 2.30 4.70 4.42 15.39 13.41 27.01 23.47 35.70 32.93 24 2.69 2.37 4.79 4.47 15.90 13.92 27.74 24.26 36.49 33.61 25 2.77 2.45 4.85 4.51 16.38 14.38 28.40 25.04 37.02 34.87 26 2.84 2.51 4.92 4.60 16.91 14.77 29.11 25.96 37.67 35.30 2.58 2.64 27 2.90 5.11 4.69 17.27 15.23 29.97 26.83 38.23 35.96 28 2.98 5.18 4.77 17.76 15.66 30.68 27.54 38.96 36.44 29 3.07 2.70 5.23 4.84 18.12 16.18 31.52 28.09 39.42 37.21 30 3.14 2.78 5.30 4.93 18.54 16.71 32.15 28.73 40.19 37.80 35 22.52 3.43 4.23 2.92 3.90 6.42 7.14 5.35 6.24 24.19 37.10 42.27 33.12 36.29 43.67 48.20 51.11 39.19 40 27.21 25.40 42.25 45 6.12 5.18 8.81 7.40 33.02 37.94 29.16 48.73 39.08 46.04 50 9.72 8.73 14.19 9.11 33.57 56.31 44.16 58.49 49.20 55 16.25 12.82 22.03 13.17 45.83 37.02 61.09 49.40 71.28 53.16 60 24.10 19.43 37.70 24.82 53.98 42.24 70.43 52.55 79.15 58.08
How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent.
Need Help?
Read It
Watch It
Master It
Transcribed Image Text:How much would Juanita's monthly premium be for a 10-year term insurance policy with a face value of $280,000, based on Table 19-1 and Table 19-2 (in $)? She turned 24 years old on her last birthday. Round your answer to the nearest cent. Need Help? Read It Watch It Master It
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Elementary Algebra
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage