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5. A 35-year old woman purchases a $100,000 term life insurance policy. Based on a a period life table from the U.S. government, the
5. A 35-year old woman purchases a $100,000 term life insurance policy. Based on a a period life table from the U.S. government, the probability that she will survive the year is 0.999057. Find the expected value of the policy for the insurance company (Note: yes, you have enough information here. What is the probability of not surviving? What is the payout if you survive?) Expected value of the policy:
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Discovering Advanced Algebra An Investigative Approach
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
1st edition
1559539844, 978-1604400069, 1604400064, 978-1559539845
