Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A 70-year female needs insurance coverage for only 2-years. She finds an insurance company that is willing to sell her a 2-year term insurance policy

image text in transcribed

A 70-year female needs insurance coverage for only 2-years. She finds an insurance company that is willing to sell her a 2-year term insurance policy with a death benefit of $200,000. What is the net single premium if i = 7%, 970 = 0.03, and q71 0.04? (death benefit is paid at the end of the year of death) O A. $12,594.99 B. $12,315.49 C. $12,385.36 D. $12,228.14

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Finance The Logic And Practice Of Finance Management

Authors: Arthur J. Keown, John H. Martin, David F. Scott, John Petty, J. William Petty

5th Edition

0132019299, 9780132019293

More Books

Students also viewed these Finance questions