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Byron Trenton wants to purchase a life insurance policy worth 200,000. His insurance agent quoted his monthly premiums at 57.50 per month. What is the cost of the insurance per 1,000?

Q. 2

What is the amount of annual premium due for a 1,500,000 term life insurance policy quoted at 4.60 per 1,000?

Q. 3

What is the annual premium for a 200,000 term life insurance policy with a cost per 1,000 of 3.20?

Q. 4

Beckett International LLC offers its employees healthcare coverage for which the company pays 80 of each employee's premium per month. The individual annual premium is 1,920. If the employee wishes to cover their family, an additional 95 is added to the individual monthly premium. What is the employee's monthly premium for family health coverage?

Q. 5

Calculate the individual and family premiums when the individual annual premium is 2,004, the employer contributes 65 per month, and the family coverage is an additional 89 per month.

Q. 6

Calculate the monthly family premium when the individual annual premium is 1,500, the employer contributes 50 per month, and the family coverage is an additional 72 per month.

Q. 7

A small business owner uses an Excel spreadsheet to calculate the costs of various health insurance options for her employees. The individual annual premium is in cell B5. The employers monthly contribution is in Cell D9 and the monthly cost of the family option is in cell B6. Which multimath formula should be entered in Cell E9 to calculate the monthly premium for an employee who selects the individual-only healthcare?
 A) =(B5/12)+B6
  B) =(B5/12)-D9
  C) =B5-D9
  D) =B5+B6-D9

Ans. #1

3.45; 57.50  12 = 690;

Ans. #2

6,900;

Ans. #3

640;

Ans. #4

175; 1,920  12 = 160; 160 - 80 = 80; 80 + 95 = 175

Ans. #5

Individual premium: 102.00; Family premium: 191.00;

Ans. #6

147; 1,500  12 = 125; 125 - 50 = 75; 75 + 72 = 147

Ans. #7

B

I'm still confused, but thanks for answering correctly