a solve. Insurance Premiums . The mortality rate for nonsmokers is much lower than it is for those who do smoke. With all other factors being equal, the nonsmoker can expect to pay a lower insurance premium. The equation y = 2.06 x + 10.08 can be used to estimate the monthly premium for a $250,000 term life insurance policy for a female nonsmoker age 40 or older, where x is the issue age-that is x = 0 , corresponds to issue age 40, x = 3 corresponds to issue age 43, and so on. Data: American General Life Insurance Company a. Estimate the monthly insurance premium for a female nonsmoker who is 50 years old. b. At what issue age would the monthly premium be approximately $52?
a solve. Insurance Premiums . The mortality rate for nonsmokers is much lower than it is for those who do smoke. With all other factors being equal, the nonsmoker can expect to pay a lower insurance premium. The equation y = 2.06 x + 10.08 can be used to estimate the monthly premium for a $250,000 term life insurance policy for a female nonsmoker age 40 or older, where x is the issue age-that is x = 0 , corresponds to issue age 40, x = 3 corresponds to issue age 43, and so on. Data: American General Life Insurance Company a. Estimate the monthly insurance premium for a female nonsmoker who is 50 years old. b. At what issue age would the monthly premium be approximately $52?
Solution Summary: The author calculates the monthly insurance premium paid by a female non-smoker who is 50 years old and has 250,000 term life insurance policy.
Insurance Premiums. The mortality rate for nonsmokers is much lower than it is for those who do smoke. With all other factors being equal, the nonsmoker can expect to pay a lower insurance premium. The equation
y
=
2.06
x
+
10.08
can be used to estimate the monthly premium for a $250,000 term life insurance policy for a female nonsmoker age 40 or older, where x is the issue age-that is
x
=
0
, corresponds to issue age 40,
x
=
3
corresponds to issue age 43, and so on.
Data: American General Life Insurance Company
a. Estimate the monthly insurance premium for a female nonsmoker who is 50 years old.
b. At what issue age would the monthly premium be approximately $52?
(z-
= (-2) (→
Use the FOIL Method to find (z —
· -
MODELING REAL LIFE Your checking account has a constant balance of $500. Let the function $m$ represent the balance of your savings account after $t$ years. The table shows the total balance of the accounts over time. Year, $t$ Total balance 0 1 2 3 4 5 $2500 $2540 $2580.80 $2622.42 $2664.86 $2708.16 a. Write a function $B$ that represents the total balance after $t$ years. Round values to the nearest hundredth, if necessary. $B\left(t\right)=$ Question 2 b. Find $B\left(8\right)$ . About $ a Question 3 Interpret $B\left(8\right)$ . b represents the total balance checking and saving accounts after 8 years the balance would be 16 / 10000 Word Limit16 words written of 10000 allowed Question 4 c. Compare the savings account to the account, You deposit $9000 in a savings account that earns 3.6% annual interest compounded monthly. A = 11998.70 SINCE 9000 is the principal ( 1+0.036/12)12 times 8 gives me aproxtimately 1997 14 / 10000 Word Limit14 words written of 10000 allowed Skip to…
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