Started: Apr 19 at 3:23pm Quiz Instructions D Question 1 L 4+ F3 5 pts Jim has a 5-year-old car in reasonably good condition. He wants to take out a $20,000 term (that is, accident benefit) car insurance policy until the car is 10 years old. Assume that the probability of a car having an accident in the year in which it is x years old is as follows: x = age P(accident) 5 6 7 8 9 0.01182 0.01282 0.01386 0.01513 0.01602 Jim is applying to a car insurance company for his car insurance policy. If the car insurance company wants to make a profit of $700 above the expected total losses of $1393, how much should it charge for the policy? O $701 $693 O $713 $703 $705 F4 * F5 *+ 4 % F6 F7 & 200 FB F9 F10 F11

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