Question: If a 6 0 year - old buys a $ 1 0 0 0 life insurance policy at a cost of $ 1 0 0

If a 60 year-old buys a $1000 life insurance policy at a cost of $100 and has a probability of 0.905 of living to age 61, find the expectation of the policy until the person reaches 61. Round your answer to the nearest cent.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Complete John and Ellens joint income tax return for 2018. The forms to be completed are Form 1040, Schedules 1 through 5, Schedule A (even if they do not iteamize) B,C,D, and SE, and Forms 4562 and...

Q:

Tax Return Project: need a 1040 form filled out with the information below. Thank you! Tom and Thea Bannon (2019 tax year) 1. Tom and Thea Bannon, ages 47 and 45, are married and live at 584 Thoreau...

Q:

Required: Nancy, who is 59 years old, is the beneficiary of a $240,000 life insurance policy. What amount of the insurance proceeds is taxable under each of the following scenarios? (Do not round any...

Q:

..Answer the following questions.,, Case II - Godiva Case Any of irrelevant information to the question below, you can ignore from the description. This case is updated or continued from the first...

Q:

Elaine wants to know how much she and Archie need to contribute over the next 15 years for Kelsey's education. Their first contribution will be in ine year, and they will invest in a portfolio that...

Q:

Elaine wants to know how much she and Archie need to contribute over the next 15 years for Kelsey's education. Their first contribution will be in one year, and they will invest in a portfolio that...

Q:

If Mike were to set up a qualified plan, then who would be eligible for the plan? Assume that Mikes Social Security Retirement amount is $3,750/mo. at normal retirement age and that he and Maria have...

Q:

i will show the questions first (first two pics). only 5 questions are required from the list of 18. they can be any that you feel most confident answering! Ik usually the rule is about 3 question...

Q:

This is a case study for financial planing course. there is a list of 18 questions at the end, only 5 are required. whichever questions you feel most confident answering. ik the cheg limit is 3 parts...

Q:

Determine the total final taxes on passive income. a) P44,000 b) P49,000 c) P30,000 d) P40,000 10. Juan Dela Cruz presented to you the following income for the year: How much is the final withholding...

Q:

a.)Balance the chemical reaction equationP4(s)+Cl2(g)PCl5(g) Enter the coefficients in order, separated by commas(e.g., 1,2,3). b.)How many moles of PCl5 can be produced from29.0 g of P4 (and excess...

Q:

What are the economic reasons for the existence of mutual funds; that is, what benefits do mutual funds provide for investors? Why do individuals rather than corporations hold most mutual funds?

Q:

you are considering investing in the company US steel which of the following is an example of non - versible risk risk resulting for foreign seizure of US steel property risk resulting from oil,...

Q:

There are many management theories that are utilized in organizations. These theories were developed by scholars in the management discipline. One individual was responsible for identifying the major...