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QuizMultiple Choice

Life Insurance

Question 1 • Financial Math - MA2007

Sarah, age 29, makes $45,000 a year and wants to buy a 15-year term policy that would replace seven years of her salary. The annual premium rate (per $1000 of face value) for her age group is $1.46. What is Sarah’s premium, to the nearest dollar?a.$460 b.$215 c.$66 d.$986

Answer
A
A
B
B
C
C
D
D
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Sarah, age 29, makes $45,000 a year and wants to…