3
QuizMultiple Choice

Life Insurance

Question 3 • Financial Math - MA2007

After getting married, Joe, 32, and Melinda, 29, decide to take out life insurance policies. Joe would like a 15-year term policy and Melinda would like a 20-year term policy. They each want a $300,000 policy. How much can Joe and Melinda expect to pay in premiums the first year? a. $2,478 b. $2,484 c. $1,488 d. $2,409 Please select the best answer from the choices provided

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Answer
A
A
B
B
C
C
D
D
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