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An insurance company plans to sell a $250,000 one-year term life insurance policy to a 40-year-old male. Of 2.5 million men having similar risk factors,
An insurance company plans to sell a $250,000 one-year term life insurance policy to a 40-year-old male. Of 2.5 million men having similar risk factors, the company estimates that 1500 of them will die in the next year. What is the premium that the insurance company should charge if it would like to make a profit of $70 on each policy? (Type an integer or a decimal.)
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