18-03-2015
Mathematics

Answered

A 28 year old man pays $165 for a one year life insurance policy with coverage of $140,000. If the probability that he will live through the year is 0.994, what is the expected value for the insurance policy?

Verified Answer :

Anonymous Anonymous

18-03-2015

Coverage X Probability of the Coverage

$140000 * (1 - 0.994) = $840

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