Katie uses the following table and calculates that a 26-year-old male will pay a monthly premium of $84.15 for $275,000 worth of insurance. Is Katie’s calculations correct? Justify your reasoning. Answer in complete sentences.

UNIVERSAL LIFE INSURANCE
FEMALE 18-27 28-32 33-37 38-42 43-47 48-52 53-58
MALE 18-24 25-29 30-34 35-39 40-44 45-49 50-55
MR per $1,000 of coverage 0.306 0.360 0.415 0.490 0.588 0.724 0.942

Question

07-12-2022
Mathematics

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Katie uses the following table and calculates that a 26-year-old male will pay a monthly premium of $84.15 for $275,000 worth of insurance. Is Katie’s calculations correct? Justify your reasoning. Answer in complete sentences.

UNIVERSAL LIFE INSURANCE
FEMALE 18-27 28-32 33-37 38-42 43-47 48-52 53-58
MALE 18-24 25-29 30-34 35-39 40-44 45-49 50-55
MR per $1,000 of coverage 0.306 0.360 0.415 0.490 0.588 0.724 0.942

Sagot :

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