23-06-2019
Mathematics

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Sam is applying for a single year life insurance policy worth $25,700.00. If the actuarial tables determine that he will survive the next year with probability 0.99, what is his expected value for the life insurance policy if the premium is $362.00?

Respuesta :

JiminBang JiminBang

23-06-2019

Answer:

-261.85

Step-by-step explanation:

If she lives with probability .996, it cost her - 334.

If she dies with probability .004, the value is 71150 - 334

.996*(-334) + .001*(71150 - 334) = -261.85

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