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John, a 70 year-old male has just purchased a $10,000 two-year term policy. Assume that annual interest rate is 10%. Ignoring non-claim expenses what is his premium?

John, a 70 year-old male has just purchased a $10,000 two-year term policy. Assume that annual interest rate is 10%. Ignoring non-claim expenses what is his premium?

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Age of Males 70 71 72 73 74 $702.89 $717.03 $810.99 Probability of Dying John, a 70 year-old male has just purchased a $10,000 two-year term policy. Assume that annual interest rate is 10%. Ignoring non-claim expenses what is his premium? $828.10 0.03951 0.04330 0.04765 0.05670 0.06239 None of the above Number of People 627,416 602,627 576,533 549,061 517,766 Number of Deaths 24,789 26,094 27,472 31,295 32,301
Transcribed Image Text:Age of Males 70 71 72 73 74 $702.89 $717.03 $810.99 Probability of Dying John, a 70 year-old male has just purchased a $10,000 two-year term policy. Assume that annual interest rate is 10%. Ignoring non-claim expenses what is his premium? $828.10 0.03951 0.04330 0.04765 0.05670 0.06239 None of the above Number of People 627,416 602,627 576,533 549,061 517,766 Number of Deaths 24,789 26,094 27,472 31,295 32,301
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