Home / Questions / Jim is applying to Big Rock Insurance Company for his term insurance policy What is the pr...
Jim is applying to Big Rock Insurance Company for his term insurance policy. (a)
What is the probability that Jim will die in his 60th year? (Enter a number. Enter your answer to five decimal places.)
Using this probability and the $50,000 death benefit, what is the expected cost to Big Rock Insurance (in dollars)? (Enter a number. Round your answer to two decimal places.)
$
(b)
What is the expected cost to Big Rock Insurance for years 61, 62, 63, and 64 (in dollars)? (For each answer, enter a number. Round your answers to two decimal places.)
year 61 $
year 62 $
year 63 $
year 64 $
What would be the total expected cost to Big Rock Insurance over the years 60 through 64 (in dollars)? (Enter a number. Round your answer to two decimal places.)
$
(c)
If Big Rock Insurance wants to make a profit of $700 above the expected total cost paid out for Jim's death, how much should it charge for the policy (in dollars)? (Enter a number. Round your answer to two decimal places.)
$
(d)
If Big Rock Insurance Company charges $5000 for the policy, how much profit does the company expect to make (in dollars)? (Enter a number. Round your answer to two decimal places.)
can anyone help break this down?
Apr 23 2020 View more View Less
1. A microwave transmitter typically requires a + 8-dBm audio level to drive the input fully. If a + 10-dBm level is measured, what is the actual voltage level measured? ...
Jul 29 2020A long-tube vertical forced circulation evaporator is to be fed with 20 wt% caustic soda so at a temperature of 100 ℉. The concentrated liquor is expected to be 50 wt% Na...
Jul 31 2020Assume the following ratios are constant: Total asset turnover2.90 Profit margin6.9 Equity multiplier2.00 Payout ratio35What is the sustainable growth rate?
Apr 15 2020What are the five main determinants of consumer spending? Which of these is the most important? How would a rise in stock prices or housing prices affect consumer spending?
Apr 23 2021If a firm’s total revenue is $5 billion, its fixed costs are $3 billion, and its variable costs are $1.5 billion, what does it do (a) in the short run and (b) in the long...
Apr 24 2020What type of inter organizational relationship should a global company consider in (a) the inbound portion of its supply chains if the goal is to buy commodity-oriented c...
May 07 20207. Find the surface area of a solid that is generated by revolving y=271-x about the x- axis from x = = 0 to x = 1/2 !
Apr 13 2021Which of the following would not cause the market supply of cellphones to change?1)- Telecommunications are deregulated, and anyone who wants to can produce and sell cell...
May 09 2021Clare sells handmade purses. She uses her savings of $5,000, which was earning $750 per year in an investment account, to fund her business. Her other expenses include ma...
Apr 29 2020Within todayâs changing global software and mobile phone industries, evaluate and assess Nokiaâs and Microsoftâs product lines and market shares
Sep 06 2020