Question

If Yessenia wants to buy a $165,000 whole life policy, and the annual premium rate (per $1000 of face value) for her age group is $15.46, how much is Yessenia’s monthly premium? a. $1,067.27 b. $2,550.90 c. $212.57 d. $171.33

Answer 1

Answer:

C. 212.57

Step-by-step explanation:

Answer 2

Based on the information given Yessenia’s monthly premium is: c. $212.57.

Monthly premium:

First step is to calculate the annual premium rate per face value

Annual premium rate per face value=$165,000/$1,000

Annual premium rate per face value=165

Second step is to calculate the monthly premium

Monthly premium=(15.46×165)/12

Monthly premium=$2,550.9

Monthly premium=212.57

Inconclusion Yessenia’s monthly premium is: c. $212.57.

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