Ask Question
5 August, 00:13

Tom Hornet purchases $7,000 of ten-year term life. He is 31 years old

What is his annual premium?

What is his quarterly premium?

The difference between the two payment options?

(Remember to compare annual premium to annual premium!) :

+2
Answers (1)
  1. 5 August, 03:33
    0
    The annual premium is 5.07 x 7 = 35.49

    The quarterly premium is 35.49 x. 26 = 9.23

    And the difference between the two payment options is 1.43

    (Use the table in the question, it has all the information you need).
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Tom Hornet purchases $7,000 of ten-year term life. He is 31 years old What is his annual premium? What is his quarterly premium? The ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers