Question

Question 5 Arthur bought a $90,000 life insurance policy at $10.98 for a 20 year term. What will he pay over 20 years for the premium?

Answer 1

Correct Answer - $19,764.00

Explanation:

10.98 x 90 x 20 = $19,764.00

Answer 2

I am assuming he would pay $10.98 a month. If you multiply 10.98 by 12, since there are 12 months in a year,you get 131.76. That would be how much he pays for 1 year. To find out how much he would pay for 20 years, multiply 131.76 by 20. You get $2,635.20.