contestada

Sue purchased a $30,000 life insurance policy at the price of $24 for each $1000 of coverage. If she pays the premium in 12 monthly installments, how much is each installment?

Respuesta :

Cost of life insurance is $30000 at a price of for each $24 for each $1000 of coverage.

Cost = [tex]\frac{24}{1000}\times30000[/tex]

= $720

Premium is paid each month then it becomes [tex]\frac{720}{12}=60[/tex]

=$60