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mathinator mathinator
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6 years ago
A man wishes to purchase a 5-year term-life insurance policy that will pay the beneficiary $20,000 in the event that the man’s death occurs during the next 5 years.  Using life insurance tables, he determines that the probability that he will live another 5 years is .96.  What is the minimum amount that he can expect to pay for his premium?  Hint: The minimum premium occurs when the insurance company’s expected profit is zero
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bolbolbolbol
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mathinator Author
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6 years ago
Correct Slight Smile TY
kc123
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Yesterday
Thank you, thank you, thank you!
ezsancheezy
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